FY2024 Earnings Forecast for Carvana Issued By William Blair

Carvana Co. (NYSE:CVNA) – Investment analysts at William Blair raised their FY2024 earnings per share estimates for shares of Carvana in a research report issued to clients and investors on Thursday, October 31st. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $0.89 for the year, up from their prior forecast of $0.23. The consensus estimate for Carvana’s current full-year earnings is $0.53 per share. William Blair also issued estimates for Carvana’s Q4 2024 earnings at $0.29 EPS and FY2025 earnings at $2.39 EPS.

CVNA has been the subject of a number of other reports. Wedbush increased their price objective on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their price objective on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. TD Cowen raised their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Evercore ISI boosted their price target on shares of Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $217.71.

Carvana Price Performance

Shares of NYSE:CVNA opened at $235.78 on Monday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a one year low of $27.75 and a one year high of $259.39. The company has a 50-day simple moving average of $175.69 and a 200-day simple moving average of $139.81. The stock has a market capitalization of $48.79 billion, a price-to-earnings ratio of 23,531.00 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share.

Hedge Funds Weigh In On Carvana

Institutional investors have recently modified their holdings of the company. Forum Financial Management LP increased its stake in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after purchasing an additional 76 shares during the last quarter. Empirical Asset Management LLC increased its stake in shares of Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after acquiring an additional 100 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after acquiring an additional 130 shares during the period. CWM LLC boosted its position in shares of Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Carvana by 32.8% in the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at $52,484,640. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira J. Platt sold 12,178 shares of Carvana stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $130.33, for a total value of $1,587,158.74. Following the sale, the director now owns 43,229 shares of the company’s stock, valued at approximately $5,634,035.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,663,934 shares of company stock valued at $453,200,905. 17.18% of the stock is owned by insiders.

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.