Carvana (NYSE:CVNA) Issues Earnings Results, Beats Estimates By $0.27 EPS

Carvana (NYSE:CVNA) announced its quarterly earnings data on Wednesday. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27, Zacks reports.

Carvana Stock Down 1.4 %

CVNA traded down $3.85 on Wednesday, hitting $280.68. 7,250,846 shares of the company were exchanged, compared to its average volume of 3,690,996. Carvana has a twelve month low of $48.15 and a twelve month high of $292.84. The company has a market cap of $58.28 billion, a price-to-earnings ratio of 28,096.50 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The firm has a 50-day moving average price of $234.25 and a two-hundred day moving average price of $206.38.

Insider Buying and Selling

In other Carvana news, Director Ira J. Platt sold 25,000 shares of Carvana stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the completion of the sale, the director now directly owns 5,227 shares of the company’s stock, valued at $1,276,956.10. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,629 shares of company stock valued at $44,833,799 in the last three months. 17.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CVNA shares. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Carvana in a research note on Tuesday, January 7th. Evercore ISI raised their target price on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Citigroup raised Carvana from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $277.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their target price on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average target price of $249.29.

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.