Carvana (CVNA) Scheduled to Post Earnings on Wednesday

Carvana (NYSE:CVNA) is set to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. On average, analysts expect Carvana to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Carvana Stock Performance

Shares of CVNA opened at $202.53 on Monday. The stock’s 50-day simple moving average is $167.97 and its 200 day simple moving average is $133.56. The stock has a market capitalization of $41.03 billion, a price-to-earnings ratio of 88.83 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana has a 52-week low of $25.09 and a 52-week high of $203.72.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 15,814 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the transaction, the insider now directly owns 37,442,317 shares in the company, valued at $7,531,896,487.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 15,814 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $201.16, for a total value of $3,181,144.24. Following the completion of the sale, the insider now owns 37,442,317 shares in the company, valued at approximately $7,531,896,487.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $133.41, for a total value of $10,005,750.00. Following the completion of the sale, the insider now owns 1,565,814 shares of the company’s stock, valued at approximately $208,895,245.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,880,891 shares of company stock worth $479,638,935 in the last ninety days. 17.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVNA has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Piper Sandler raised their price target on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. TD Cowen raised their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. BTIG Research raised their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised Carvana to a “sector perform” rating and raised their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $182.29.

About Carvana

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.