William Blair Issues Negative Estimate for Carvana Earnings

Carvana Co. (NYSE:CVNA) – Investment analysts at William Blair decreased their Q3 2024 earnings estimates for Carvana in a research note issued to investors on Wednesday, October 23rd. William Blair analyst S. Zackfia now forecasts that the company will earn $0.19 per share for the quarter, down from their previous forecast of $0.27. The consensus estimate for Carvana’s current full-year earnings is $0.29 per share. William Blair also issued estimates for Carvana’s Q4 2024 earnings at $0.07 EPS, FY2024 earnings at $0.23 EPS and FY2025 earnings at $1.92 EPS.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion.

Several other research analysts have also weighed in on CVNA. JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Carvana in a research report on Monday, September 9th. Evercore ISI upped their target price on shares of Carvana from $178.00 to $182.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Finally, DA Davidson upped their target price on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Carvana has an average rating of “Hold” and a consensus price target of $182.29.

Carvana Trading Up 1.2 %

NYSE CVNA opened at $202.53 on Monday. The stock has a market capitalization of $41.03 billion, a P/E ratio of 88.83 and a beta of 3.44. Carvana has a 52-week low of $25.09 and a 52-week high of $203.72. The firm has a 50-day moving average price of $167.97 and a 200 day moving average price of $133.56. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD grew its holdings in Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares in the last quarter. Sylebra Capital LLC acquired a new position in shares of Carvana in the 2nd quarter valued at about $67,686,000. Senator Investment Group LP acquired a new position in shares of Carvana in the 2nd quarter valued at about $63,767,000. Driehaus Capital Management LLC boosted its holdings in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Carvana in the 2nd quarter valued at about $39,997,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the sale, the insider now owns 119,494 shares of the company’s stock, valued at $23,659,812. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $133.41, for a total transaction of $10,005,750.00. Following the completion of the transaction, the insider now directly owns 1,565,814 shares of the company’s stock, valued at $208,895,245.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the transaction, the insider now directly owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,880,891 shares of company stock valued at $479,638,935 in the last quarter. Company insiders own 17.12% of the company’s stock.

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.