Carvana (NYSE:CVNA – Get Rating) posted its earnings results on Thursday. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($1.75) by ($0.60), Briefing.com reports. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Carvana had a negative net margin of 2.55% and a negative return on equity of 53.77%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS.
Carvana Price Performance
Shares of CVNA traded up $13.44 during mid-day trading on Friday, reaching $46.98. 46,467,873 shares of the company’s stock were exchanged, compared to its average volume of 8,674,372. The company has a quick ratio of 0.47, a current ratio of 1.36 and a debt-to-equity ratio of 63.19. The company has a 50-day simple moving average of $25.90 and a two-hundred day simple moving average of $79.70. Carvana has a 52-week low of $19.45 and a 52-week high of $376.83. The company has a market cap of $8.13 billion, a price-to-earnings ratio of -11.66 and a beta of 2.68.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Carvana from $85.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday. Northcoast Research initiated coverage on Carvana in a report on Monday, April 11th. They set a “neutral” rating on the stock. Truist Financial reduced their price objective on shares of Carvana from $160.00 to $80.00 and set a “na” rating for the company in a research report on Monday, May 16th. Robert W. Baird reduced their price objective on shares of Carvana from $125.00 to $65.00 in a research report on Wednesday, May 11th. Finally, JMP Securities initiated coverage on shares of Carvana in a research report on Thursday, June 30th. They issued a “buy” rating and a $35.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $105.82.
Insider Transactions at Carvana
Institutional Trading of Carvana
Institutional investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. acquired a new position in Carvana in the 1st quarter worth $59,000. US Bancorp DE lifted its holdings in Carvana by 248.0% in the 1st quarter. US Bancorp DE now owns 1,646 shares of the company’s stock worth $197,000 after buying an additional 1,173 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in Carvana in the 1st quarter worth $209,000. Geneos Wealth Management Inc. lifted its holdings in Carvana by 17.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock worth $230,000 after buying an additional 280 shares in the last quarter. Finally, Ethic Inc. acquired a new position in Carvana in the 1st quarter worth $244,000.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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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