Q2 2022 EPS Estimates for Carvana Co. (NYSE:CVNA) Lowered by William Blair

Carvana Co. (NYSE:CVNAGet Rating) – Stock analysts at William Blair reduced their Q2 2022 earnings per share (EPS) estimates for Carvana in a report issued on Monday, August 1st. William Blair analyst S. Zackfia now expects that the company will earn ($1.69) per share for the quarter, down from their previous forecast of ($1.68). The consensus estimate for Carvana’s current full-year earnings is ($7.17) per share. William Blair also issued estimates for Carvana’s Q3 2022 earnings at ($1.44) EPS, Q4 2022 earnings at ($1.56) EPS and FY2023 earnings at ($3.94) EPS.

Several other research firms have also recently commented on CVNA. Bank of America cut their price target on Carvana from $225.00 to $80.00 in a research note on Thursday, May 19th. Morgan Stanley lowered their target price on Carvana from $105.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. Stifel Nicolaus lowered their target price on Carvana from $48.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, June 28th. Northcoast Research started coverage on Carvana in a report on Monday, April 11th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada decreased their price target on Carvana from $138.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, April 21st. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $108.09.

Carvana Trading Up 2.5 %

NYSE:CVNA opened at $34.90 on Wednesday. The company has a debt-to-equity ratio of 63.19, a quick ratio of 0.47 and a current ratio of 1.36. Carvana has a one year low of $19.45 and a one year high of $376.83. The business’s 50-day simple moving average is $25.85 and its 200 day simple moving average is $80.55. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -8.66 and a beta of 2.68.

Insiders Place Their Bets

In other news, insider Daniel J. Gill bought 94,000 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were bought at an average cost of $21.77 per share, with a total value of $2,046,380.00. Following the acquisition, the insider now owns 131,023 shares in the company, valued at $2,852,370.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ernest C. Garcia II purchased 1,191,468 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was bought at an average price of $20.67 per share, with a total value of $24,627,643.56. Following the acquisition, the insider now owns 2,578,314 shares in the company, valued at approximately $53,293,750.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill purchased 94,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were purchased at an average cost of $21.77 per share, with a total value of $2,046,380.00. Following the acquisition, the insider now owns 131,023 shares in the company, valued at approximately $2,852,370.71. The disclosure for this purchase can be found here. Insiders have acquired 2,197,008 shares of company stock valued at $47,538,049 in the last three months. 17.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several large investors have recently modified their holdings of CVNA. National Bank of Canada FI acquired a new stake in shares of Carvana during the fourth quarter worth $81,000. Janney Montgomery Scott LLC grew its holdings in Carvana by 10.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,105 shares of the company’s stock worth $488,000 after purchasing an additional 204 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Carvana in the fourth quarter worth $46,000. State of New Jersey Common Pension Fund D grew its holdings in Carvana by 3.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 44,404 shares of the company’s stock worth $10,292,000 after purchasing an additional 1,463 shares during the period. Finally, Desjardins Global Asset Management Inc. acquired a new position in shares of Carvana during the fourth quarter valued at about $60,000.

About Carvana

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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

Further Reading

Earnings History and Estimates for Carvana (NYSE:CVNA)

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