Q3 2024 EPS Estimates for Carvana Co. Boosted by Analyst (NYSE:CVNA)

Carvana Co. (NYSE:CVNA) – Zacks Research increased their Q3 2024 EPS estimates for shares of Carvana in a report released on Wednesday, September 11th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings per share of $0.31 for the quarter, up from their previous forecast of $0.08. The consensus estimate for Carvana’s current full-year earnings is $0.18 per share. Zacks Research also issued estimates for Carvana’s Q4 2024 earnings at $0.08 EPS, FY2024 earnings at ($0.29) EPS, Q2 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.41 EPS, FY2025 earnings at $1.73 EPS, Q1 2026 earnings at $0.50 EPS, Q2 2026 earnings at $0.49 EPS and FY2026 earnings at $2.04 EPS.

CVNA has been the subject of several other reports. Morgan Stanley lifted their price target on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Stephens began coverage on shares of Carvana in a research report on Thursday. They issued an “overweight” rating and a $190.00 price objective for the company. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and raised their price objective for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Wells Fargo & Company upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $77.00 to $175.00 in a research report on Thursday, August 1st. Finally, Piper Sandler raised their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $151.00.

Carvana Trading Up 1.0 %

Shares of CVNA stock opened at $141.90 on Friday. Carvana has a 12-month low of $25.09 and a 12-month high of $159.85. The company has a market capitalization of $29.36 billion, a P/E ratio of 62.24 and a beta of 3.43. The firm has a 50-day moving average price of $139.71 and a 200 day moving average price of $112.17. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the completion of the transaction, the chief financial officer now owns 186,580 shares in the company, valued at $23,150,846.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00. Following the transaction, the insider now owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark W. Jenkins sold 55,000 shares of Carvana stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the completion of the transaction, the chief financial officer now directly owns 186,580 shares in the company, valued at approximately $23,150,846.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,561,866 shares of company stock worth $346,609,884. 17.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its stake in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in Carvana by 1.8% in the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after buying an additional 182 shares in the last quarter. Parallel Advisors LLC lifted its stake in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. American Century Companies Inc. lifted its stake in Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after buying an additional 241 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Carvana in the second quarter valued at approximately $32,000. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.