Carvana Co. (NYSE:CVNA – Get Rating) – Research analysts at William Blair lowered their Q2 2022 earnings per share estimates for Carvana in a research note issued to investors on Tuesday, May 10th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of ($1.87) for the quarter, down from their previous estimate of ($1.64). William Blair also issued estimates for Carvana’s Q3 2022 earnings at ($1.58) EPS, Q4 2022 earnings at ($1.81) EPS and FY2023 earnings at ($5.44) EPS.
Other research analysts also recently issued research reports about the company. Needham & Company LLC cut their price target on Carvana from $173.00 to $121.00 and set a “buy” rating for the company in a research note on Thursday, April 21st. Wedbush cut their target price on shares of Carvana from $120.00 to $90.00 in a research report on Tuesday, May 3rd. TheStreet downgraded shares of Carvana from a “c-” rating to a “d+” rating in a research note on Thursday, January 13th. Raymond James began coverage on shares of Carvana in a research note on Tuesday. They set an “underperform” rating on the stock. Finally, Morgan Stanley downgraded shares of Carvana from an “overweight” rating to an “equal weight” rating and set a $105.00 price objective for the company. in a report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Carvana has an average rating of “Buy” and an average target price of $198.70.
Carvana (NYSE:CVNA – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The company reported ($2.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($1.17). Carvana had a negative return on equity of 53.77% and a negative net margin of 2.55%. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the previous year, the business earned ($0.46) EPS. The company’s revenue for the quarter was up 55.8% on a year-over-year basis.
Several large investors have recently made changes to their positions in CVNA. Baillie Gifford & Co. increased its stake in shares of Carvana by 25.1% in the fourth quarter. Baillie Gifford & Co. now owns 9,655,855 shares of the company’s stock worth $2,238,131,000 after buying an additional 1,937,812 shares during the period. Morgan Stanley grew its holdings in Carvana by 0.8% in the 2nd quarter. Morgan Stanley now owns 6,570,893 shares of the company’s stock worth $1,983,226,000 after acquiring an additional 50,682 shares during the last quarter. BlackRock Inc. increased its position in shares of Carvana by 4.1% in the third quarter. BlackRock Inc. now owns 4,403,672 shares of the company’s stock valued at $1,327,883,000 after acquiring an additional 171,811 shares during the period. D1 Capital Partners L.P. raised its stake in shares of Carvana by 77.7% during the fourth quarter. D1 Capital Partners L.P. now owns 4,211,082 shares of the company’s stock valued at $976,087,000 after acquiring an additional 1,841,141 shares during the last quarter. Finally, CAS Investment Partners LLC boosted its holdings in shares of Carvana by 0.3% during the fourth quarter. CAS Investment Partners LLC now owns 3,314,303 shares of the company’s stock worth $768,222,000 after purchasing an additional 9,275 shares during the period.
In other news, Director Michael E. Maroone acquired 25,000 shares of Carvana stock in a transaction dated Friday, March 4th. The shares were purchased at an average cost of $104.77 per share, for a total transaction of $2,619,250.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $148.73, for a total value of $148,730.00. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,687,500 shares of company stock worth $295,619,250. 17.67% of the stock is owned by company insiders.
Carvana Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Carvana (CVNA)
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