Carvana (CVNA) Set to Announce Earnings on Wednesday

Carvana (NYSE:CVNA) will announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.80) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.97) EPS. 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

CVNA opened at $75.60 on Wednesday. Carvana has a one year low of $6.70 and a one year high of $94.04. The business has a 50 day simple moving average of $76.01 and a two-hundred day simple moving average of $53.06. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 140.00 and a beta of 3.32.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. In related news, insider Paul W. Breaux sold 20,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 115,032 shares of the company’s stock, valued at $10,237,848. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,312,500 shares in the company, valued at approximately $265,430,625. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,883 shares of company stock valued at $15,505,178. Corporate insiders own 17.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several research reports. Robert W. Baird upped their price objective on shares of Carvana from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and boosted their price target for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Finally, Evercore ISI decreased their price objective on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.87.

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.