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S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
NYSE:CVNA

Carvana (CVNA) Stock Price, News & Analysis

$71.10
+1.94 (+2.81%)
(As of 04/18/2024 ET)
Today's Range
$69.25
$73.25
50-Day Range
$49.41
$90.81
52-Week Range
$6.70
$94.04
Volume
4.73 million shs
Average Volume
6.20 million shs
Market Capitalization
$14.36 billion
P/E Ratio
131.67
Dividend Yield
N/A
Price Target
$52.53

Carvana MarketRank™ Stock Analysis

Analyst Rating
Hold
2.07 Rating Score
Upside/​Downside
26.2% Downside
$52.53 Price Target
Short Interest
Bearish
14.44% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-2.66
Upright™ Environmental Score
News Sentiment
0.56mentions of Carvana in the last 14 days
Based on 19 Articles This Week
Insider Trading
Selling Shares
$15.51 M Sold Last Quarter
Proj. Earnings Growth
Growing
From ($3.40) to ($2.63) Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.61 out of 5 stars

Retail/Wholesale Sector

120th out of 198 stocks

Automotive Dealers & Gasoline Service Stations Industry

11th out of 18 stocks

CVNA stock logo

About Carvana Stock (NYSE:CVNA)

Carvana Co. was founded in 2012 by Ernest Garcia and two partners. Today Carvana is a leading used-car dealer nationwide, the fastest growing in the US and well-known for its chain of used car vending machines. The vending machines allow pre-approved buyers to pick up their purchases at one of 32 locations nationwide. Other buyers can have their vehicles delivered directly to their door or to a location of their choice. Ernest Garcia III remains as CEO as of 2022. He and his father, Ernest Garcia II, are among the company’s largest shareholders.

The company operates an e-commerce platform that provides an end-to-end car buying experience without the hassles of dealers or dealerships. The platform can offer no-haggle pricing by leveraging its database of used vehicles and readily available data for local car markets. Buyers can search for and find vehicles, view them using the website's propriety technology, obtain financing and even register their new car or get insurance.

The company’s rise to fame was meteoric. The first vending machine was launched in 2013, leading to the brand's rapid expansion. The 1st fully-automated vending machine was opened in 2015 and then later, in 2017, the company held its initial public offering. The company IPOd on the New York Stock Exchange and saw its share price quickly double, triple, and quadruple as used-car trends and growing brand recognition boosted sales.

The post-IPO years included major acquisitions, including vehicle-data company Carlypso and imaging firm Car360, which greatly enhanced the website and car-buying experience. In 2020, with the onset of the COVID-19 pandemic, the company initiated touchless delivery that allowed consumers to receive their vehicles with minimal interaction. Consumers can also sell their used cars to the company in exchange for cash or trade value. The trade-in business is a source of products for the company and is a key to its success.

All Carvana used cars are inspected a reconditioned by a team of industry professionals. They have no reported fire, frame or flood damage and are certified by CARFAX and AutoCheck data. Once purchased, consumers have 7 days to test drive and return the vehicle with no charge. The total number of retail units sold in F2021 topped 425,000 and resulted in $12.84 billion in revenue, or a growth of 129%. Cars that don’t make the cut are sold off through the wholesale unit, which is a significant portion of the business. The company has a presence in 47 contiguous US states and is planning to deepen and expand its coverage.

Legal issues began to mount in 2021 when the first of several states filed suit against the company. Among the complaints were a failure to properly register vehicles and deliver paperwork to consumers among other violations of state and local car-buying regulations. The suits have resulted in a number of states banning the company from operating, some indefinitely.



CVNA Stock Price History

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Company Calendar

Last Earnings
2/22/2024
Today
4/18/2024
Next Earnings (Confirmed)
5/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Automotive dealers & gasoline service stations
Sub-Industry
N/A
Previous Symbol
NASDAQ:CVNA
Fax
N/A
Employees
13,700
Year Founded
2012

Price Target and Rating

Average Stock Price Target
$50.53
High Stock Price Target
$90.00
Low Stock Price Target
$11.00
Potential Upside/Downside
-29.9%
Consensus Rating
Hold
Rating Score (0-4)
2.07
Research Coverage
14 Analysts

Profitability

Net Income
$450 million
Pretax Margin
1.62%

Debt

Sales & Book Value

Annual Sales
$10.77 billion
Cash Flow
$0.68 per share
Book Value
($1.92) per share

Miscellaneous

Free Float
167,334,000
Market Cap
$14.56 billion
Optionable
Optionable
Beta
3.32

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CVNA Stock Analysis - Frequently Asked Questions

Should I buy or sell Carvana stock right now?

14 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Carvana in the last year. There are currently 1 sell rating, 11 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" CVNA shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CVNA, but not buy additional shares or sell existing shares.
View CVNA analyst ratings
or view top-rated stocks.

What is Carvana's stock price target for 2024?

14 brokers have issued 12 month target prices for Carvana's shares. Their CVNA share price targets range from $11.00 to $90.00. On average, they predict the company's stock price to reach $52.53 in the next year. This suggests that the stock has a possible downside of 26.2%.
View analysts price targets for CVNA
or view top-rated stocks among Wall Street analysts.

How have CVNA shares performed in 2024?

Carvana's stock was trading at $52.94 at the beginning of 2024. Since then, CVNA shares have increased by 34.4% and is now trading at $71.15.
View the best growth stocks for 2024 here
.

Are investors shorting Carvana?

Carvana saw a decrease in short interest in March. As of March 15th, there was short interest totaling 29,430,000 shares, a decrease of 12.1% from the February 29th total of 33,500,000 shares. Based on an average daily trading volume, of 7,120,000 shares, the short-interest ratio is currently 4.1 days.
View Carvana's Short Interest
.

When is Carvana's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024.
View our CVNA earnings forecast
.

How can I listen to Carvana's earnings call?

Carvana will be holding an earnings conference call on Wednesday, May 1st at 5:30 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode "4829760#".

How were Carvana's earnings last quarter?

Carvana Co. (NYSE:CVNA) issued its quarterly 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 business earned $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. Carvana's revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.97) earnings per share.

What is Ernie Garcia's approval rating as Carvana's CEO?

318 employees have rated Carvana Chief Executive Officer Ernie Garcia on Glassdoor.com. Ernie Garcia has an approval rating of 78% among the company's employees.

What other stocks do shareholders of Carvana own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Carvana investors own include NVIDIA (NVDA), Tesla (TSLA), Micron Technology (MU), PayPal (PYPL), Advanced Micro Devices (AMD), Bank of America (BAC), Alibaba Group (BABA), Salesforce (CRM), Block (SQ) and Walt Disney (DIS).

When did Carvana IPO?

Carvana (CVNA) raised $225 million in an initial public offering (IPO) on Friday, April 28th 2017. The company issued 15,000,000 shares at a price of $14.00-$16.00 per share. Wells Fargo Securities, BofA Merrill Lynch, Citigroup and Deutsche Bank Securities acted as the underwriters for the IPO and Baird, William Blair, BMO Capital Markets and JMP Securities were co-managers.

Who are Carvana's major shareholders?

Carvana's stock is owned by a variety of retail and institutional investors. Top institutional investors include Los Angeles Capital Management LLC (0.01%), Diversified Trust Co (0.00%) and True North Advisors LLC (0.00%). Insiders that own company stock include Alan J Stock, Benjamin E Huston, Benjamin E Huston, Daniel J Gill, Ernest C Garcia II, Ernest C Garcia II, Ernest C Garcia III, Gregory B Sullivan, J Danforth Quayle, Jeffrey Zwelling, Jonathan F Foster, Mark W Jenkins, Mark W Jenkins, Michael E Maroone, Neha Parikh, Paul Beldin, Paul W Breaux, Paul W Breaux, Robert J Traube, Ryan S Keeton, Ryan S Keeton, Stephen R Palmer, Thomas Taira and Timothy H Young.
View institutional ownership trends
.

How do I buy shares of Carvana?

Shares of CVNA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:CVNA) was last updated on 4/18/2024 by MarketBeat.com Staff

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