Carvana (NYSE:CVNA) Posts Earnings Results, Beats Expectations By $0.27 EPS

Carvana (NYSE:CVNA) released its earnings results on Wednesday. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27, Zacks reports.

Carvana Stock Performance

Shares of NYSE CVNA traded down $3.85 during mid-day trading on Wednesday, hitting $280.68. 7,250,846 shares of the company were exchanged, compared to its average volume of 3,690,996. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a 50 day simple moving average of $234.25 and a 200-day simple moving average of $206.38. Carvana has a 1-year low of $48.15 and a 1-year high of $292.84. The firm has a market cap of $58.28 billion, a price-to-earnings ratio of 28,096.50 and a beta of 3.37.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent research reports. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Carvana in a research note on Thursday, February 6th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and increased their price target for the company from $195.00 to $277.00 in a research note on Wednesday, January 8th. Finally, Evercore ISI increased their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $249.29.

Insider Buying and Selling

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now directly owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock valued at $44,833,799 over the last three months. 17.18% of the stock is currently owned by company insiders.

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.