Carvana (CVNA) Set to Announce Earnings on Wednesday

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

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted ($0.97) EPS. The company’s quarterly revenue was down 14.6% on a year-over-year basis. 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 $83.83 on Tuesday. The company has a fifty day moving average price of $78.09 and a 200-day moving average price of $54.27. Carvana has a 1 year low of $6.70 and a 1 year high of $94.04. The firm has a market cap of $16.93 billion, a price-to-earnings ratio of 155.24 and a beta of 3.32.

Analysts Set New Price Targets

CVNA has been the subject of several analyst reports. Wedbush reiterated a “neutral” rating and issued a $80.00 price objective (up previously from $60.00) on shares of Carvana in a research note on Thursday, April 25th. TD Cowen boosted their price objective on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on Carvana from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Morgan Stanley lifted their target price on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. Finally, Evercore ISI reduced their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $56.75.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the transaction, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.13, for a total value of $4,006,500.00. Following the sale, the insider now owns 3,312,500 shares in the company, valued at $265,430,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares of the company’s stock, valued at $10,358,694. The disclosure for this sale can be found here. Insiders have sold 187,883 shares of company stock valued at $15,505,178 in the last 90 days. 17.12% of the stock is currently owned by company 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.