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

Carvana (NYSE:CVNA) released its earnings results on Wednesday. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27, Zacks reports. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%.

Carvana Price Performance

Carvana stock traded down $17.48 on Friday, reaching $230.25. The company’s stock had a trading volume of 2,230,468 shares, compared to its average volume of 3,940,322. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company has a market cap of $47.81 billion, a price-to-earnings ratio of 146.58 and a beta of 3.37. The business’s fifty day moving average price is $234.85 and its 200 day moving average price is $207.18. Carvana has a twelve month low of $49.38 and a twelve month high of $292.84.

Analysts Set New Price Targets

Several research firms have recently commented on CVNA. Stephens reiterated an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Thursday, February 6th. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Robert W. Baird upped their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada upped their price target on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and an average target price of $262.53.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is currently owned by corporate insiders.

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.