Carvana Co. Expected to Earn Q3 2024 Earnings of $0.19 Per Share (NYSE:CVNA)

Carvana Co. is expected to earn $0.19 per share in Q3 2024, according to equities research analysts at William Blair. They raised their earnings estimate from a prior forecast of ($0.07) per share. The consensus estimate for Carvana's full-year earnings is ($0.71) per share. Several other analysts have issued ratings and price targets for the stock. Carvana's stock price opened at $137.20 on Monday, with a 52-week low of $25.09 and a 52-week high of $154.00. The company has a market cap of $27.79 billion and a PE ratio of 60.18. Institutional investors hold 56.71% of the stock. Major shareholder Ernest C. Garcia II recently sold 60,000 shares of Carvana stock.

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Carvana Co. (NYSE:CVNA - Free Report) - Equities research analysts at William Blair raised their Q3 2024 earnings per share estimates for Carvana in a research report issued on Thursday, August 1st. William Blair analyst S. Zackfia now anticipates that the company will earn $0.19 per share for the quarter, up from their prior forecast of ($0.07). William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Carvana's current full-year earnings is ($0.71) per share. William Blair also issued estimates for Carvana's Q4 2024 earnings at $0.07 EPS, FY2024 earnings at $0.22 EPS and FY2025 earnings at $1.94 EPS.

Several other equities research analysts have also recently issued reports on CVNA. JPMorgan Chase & Co. raised their target price on shares of Carvana from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, July 19th. Morgan Stanley raised their price target on Carvana from $75.00 to $110.00 and gave the stock an "underweight" rating in a research note on Thursday. TD Cowen upped their price objective on Carvana from $110.00 to $148.00 and gave the company a "hold" rating in a research report on Thursday. JMP Securities raised their target price on Carvana from $150.00 to $200.00 and gave the stock a "market outperform" rating in a research report on Friday. Finally, Evercore ISI upped their price target on shares of Carvana from $135.00 to $140.00 and gave the company an "in-line" rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of "Hold" and a consensus price target of $143.60.

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Carvana Stock Performance

Shares of NYSE CVNA opened at $137.20 on Monday. The firm's 50-day moving average price is $120.56 and its 200-day moving average price is $92.87. Carvana has a 52-week low of $25.09 and a 52-week high of $154.00. The company has a market cap of $27.79 billion, a PE ratio of 60.18 and a beta of 3.37. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company's stock valued at $904,642,000 after purchasing an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company's stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. First Trust Advisors LP grew its position in Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company's stock worth $78,560,000 after acquiring an additional 216,893 shares in the last quarter. Goodnow Investment Group LLC increased its stake in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company's stock worth $77,532,000 after acquiring an additional 23,140 shares during the last quarter. Finally, Steadview Capital Management LLC raised its position in Carvana by 15.6% during the fourth quarter. Steadview Capital Management LLC now owns 876,905 shares of the company's stock valued at $46,423,000 after purchasing an additional 118,500 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $114.04, for a total transaction of $6,842,400.00. Following the completion of the sale, the insider now directly owns 2,797,500 shares of the company's stock, valued at approximately $319,026,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $114.04, for a total transaction of $6,842,400.00. Following the completion of the transaction, the insider now owns 2,797,500 shares of the company's stock, valued at approximately $319,026,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total value of $9,522,750.00. Following the completion of the sale, the insider now directly owns 787,500 shares in the company, valued at $99,988,875. The disclosure for this sale can be found here. Insiders sold a total of 2,435,166 shares of company stock valued at $294,375,485 over the last 90 days. Company insiders own 17.12% of the company's stock.

Carvana Company Profile

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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.

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