Carvana Co. (NYSE:CVNA – Get Rating) – Analysts at William Blair lowered their Q1 2022 earnings per share estimates for shares of Carvana in a research report issued to clients and investors on Tuesday, March 8th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of ($1.67) for the quarter, down from their previous estimate of ($1.66). William Blair also issued estimates for Carvana’s FY2022 earnings at ($3.81) EPS.
Other research analysts also recently issued reports about the stock. Cowen cut their price target on shares of Carvana from $430.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Wedbush cut their price target on shares of Carvana from $185.00 to $140.00 in a report on Friday, February 25th. Wells Fargo & Company cut their price target on shares of Carvana from $270.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Carvana from $260.00 to $165.00 and set a “neutral” rating for the company in a report on Monday, January 24th. Finally, Needham & Company LLC cut their price target on shares of Carvana from $378.00 to $222.00 and set a “buy” rating for the company in a report on Friday, February 25th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana has an average rating of “Buy” and an average target price of $270.86.
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CVNA opened at $113.48 on Friday. The company has a 50 day moving average of $151.98 and a 200 day moving average of $243.37. The company has a market cap of $19.63 billion, a PE ratio of -70.92 and a beta of 2.37. Carvana has a 12 month low of $97.70 and a 12 month high of $376.83. The company has a current ratio of 1.69, a quick ratio of 0.60 and a debt-to-equity ratio of 6.11. Carvana (NYSE:CVNA – Get Rating) last released its earnings results on Thursday, February 24th. The company reported ($1.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.23). The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.51 billion. Carvana had a negative net margin of 1.05% and a negative return on equity of 19.82%. The firm’s revenue was up 110.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.41) earnings per share.
In other news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $148.73, for a total transaction of $148,730.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Maroone bought 25,000 shares of the business’s stock in a transaction dated Friday, March 4th. The shares were bought at an average cost of $104.77 per share, for a total transaction of $2,619,250.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 1,026 shares of company stock worth $153,014. Insiders own 10.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. OLD Second National Bank of Aurora purchased a new position in Carvana in the third quarter worth about $30,000. Assetmark Inc. purchased a new position in Carvana in the third quarter worth about $30,000. Lloyd Advisory Services LLC. raised its holdings in Carvana by 70.5% in the third quarter. Lloyd Advisory Services LLC. now owns 104 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Sandy Cove Advisors LLC purchased a new position in Carvana in the fourth quarter worth about $33,000. Finally, HM Payson & Co. purchased a new position in Carvana in the fourth quarter worth about $45,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.
About Carvana (Get Rating)
Carvana Co is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.
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