Carvana (CVNA) to Release Quarterly Earnings on Wednesday

Carvana (NYSE:CVNA) is scheduled to release its earnings data after the market closes on Wednesday, May 1st. Analysts expect Carvana to post earnings of ($0.80) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.97) earnings per share. On average, analysts expect Carvana to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Carvana Price Performance

NYSE CVNA opened at $75.60 on Wednesday. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 140.00 and a beta of 3.32. The company has a 50 day simple moving average of $76.01 and a 200-day simple moving average of $53.06. Carvana has a 52-week low of $6.70 and a 52-week high of $94.04.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of research reports. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $45.00 to $90.00 in a research note on Friday, March 8th. Evercore ISI cut their target price on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Carvana in a research note on Wednesday, April 17th. Finally, Robert W. Baird raised their price objective on Carvana from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.87.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the sale, the insider now owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the transaction, the insider now directly owns 3,312,500 shares in the company, valued at approximately $265,430,625. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Neha Parikh purchased 1,300 shares of the stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $77.00 per share, with a total value of $100,100.00. Following the transaction, the director now owns 58,495 shares in the company, valued at $4,504,115. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 187,883 shares of company stock valued at $15,505,178. 17.18% of the stock is owned by insiders.

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.