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

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

Carvana Stock Down 1.4 %

CVNA stock opened at $280.68 on Thursday. The stock has a market cap of $58.28 billion, a P/E ratio of 28,096.50 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 twelve month low of $48.15 and a twelve month high of $292.84. The company’s 50 day moving average is $234.84 and its two-hundred day moving average is $206.90.

Insider Activity

In other news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was 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. The trade was a 18.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’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 value of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,629 shares of company stock worth $44,833,799. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVNA. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research note on Thursday, February 6th. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Carvana in a research report on Thursday, February 6th. Needham & Company LLC raised their price target on Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.47.

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.