FY2024 Earnings Forecast for Carvana Issued By William Blair

Carvana Co. (NYSE:CVNA) – Investment analysts at William Blair reduced their FY2024 earnings per share (EPS) estimates for Carvana in a research note issued on Tuesday, February 11th. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $0.86 per share for the year, down from their prior forecast of $0.89. The consensus estimate for Carvana’s current full-year earnings is $0.88 per share. William Blair also issued estimates for Carvana’s Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.73 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.41 EPS.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group increased their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Piper Sandler increased their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

Carvana Stock Performance

Carvana stock opened at $267.97 on Thursday. The company has a market cap of $55.64 billion, a PE ratio of 26,823.82 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana has a 1 year low of $48.15 and a 1 year high of $272.96. The company’s 50-day moving average is $231.41 and its two-hundred day moving average is $201.73.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,207 shares of company stock valued at $31,110,504. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of large investors have recently modified their holdings of the business. Quent Capital LLC bought a new stake in Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Carvana in the 4th quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Carvana in the third quarter valued at $40,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.