What is William Blair’s Forecast for Carvana Q3 Earnings?

Carvana Co. (NYSE:CVNA) – Investment analysts at William Blair boosted their Q3 2025 earnings per share (EPS) estimates for shares of Carvana in a research note issued on Tuesday, October 21st. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $1.49 per share for the quarter, up from their previous estimate of $1.44. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Carvana’s current full-year earnings is $2.85 per share. William Blair also issued estimates for Carvana’s Q4 2025 earnings at $1.26 EPS and FY2025 earnings at $5.80 EPS.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a report on Tuesday, October 14th. Wells Fargo & Company lifted their price objective on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. BTIG Research reiterated a “buy” rating and set a $450.00 price objective on shares of Carvana in a report on Friday, October 17th. Gordon Haskett began coverage on Carvana in a report on Monday, July 14th. They set a “hold” rating and a $329.00 price objective on the stock. Finally, Morgan Stanley set a $450.00 price objective on Carvana in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $419.94.

Carvana Price Performance

Carvana stock opened at $340.80 on Thursday. The firm has a market capitalization of $73.34 billion, a P/E ratio of 85.41, a PEG ratio of 1.05 and a beta of 3.55. Carvana has a 1 year low of $148.25 and a 1 year high of $413.33. The business has a 50-day moving average of $363.65 and a 200-day moving average of $323.58. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

Institutional Investors Weigh In On Carvana

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock worth $4,301,035,000 after purchasing an additional 229,387 shares during the last quarter. State Street Corp increased its position in shares of Carvana by 15.0% during the 2nd quarter. State Street Corp now owns 2,765,046 shares of the company’s stock worth $931,710,000 after purchasing an additional 361,624 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Carvana by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after purchasing an additional 221,161 shares during the last quarter. Finally, Sands Capital Management LLC increased its position in shares of Carvana by 1,374.3% during the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after purchasing an additional 840,096 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total value of $5,970,000.00. Following the sale, the insider owned 81,716 shares in the company, valued at approximately $32,522,968. The trade was a 15.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the completion of the sale, the vice president owned 43,513 shares in the company, valued at $16,976,161.82. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,498,292 shares of company stock worth $547,914,707. Corporate insiders own 17.12% of the company’s stock.

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.