Q2 2022 EPS Estimates for Carvana Co. (NYSE:CVNA) Boosted by William Blair

Carvana Co. (NYSE:CVNAGet Rating) – Equities researchers at William Blair boosted their Q2 2022 EPS estimates for shares of Carvana in a research report issued to clients and investors on Monday, May 16th. William Blair analyst S. Zackfia now anticipates that the company will earn ($1.60) per share for the quarter, up from their prior estimate of ($1.87). William Blair also issued estimates for Carvana’s Q3 2022 earnings at ($1.07) EPS, Q4 2022 earnings at ($0.98) EPS and FY2023 earnings at ($2.42) EPS.

Carvana (NYSE:CVNAGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The company reported ($2.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.17). The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.37 billion. Carvana had a negative return on equity of 53.77% and a negative net margin of 2.55%. The firm’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.46) EPS.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Carvana from an “overweight” rating to an “equal weight” rating and set a $105.00 price target for the company. in a research note on Wednesday, May 4th. Cowen cut their price objective on shares of Carvana from $230.00 to $142.00 in a research report on Monday. DA Davidson cut their price objective on shares of Carvana from $140.00 to $49.00 and set a “na” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Carvana from $260.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, January 24th. Finally, Stephens cut their price objective on shares of Carvana from $200.00 to $167.00 and set an “equal weight” rating for the company in a research report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Carvana presently has a consensus rating of “Hold” and a consensus target price of $164.74.

Shares of NYSE:CVNA opened at $41.60 on Wednesday. The firm has a fifty day moving average price of $95.29 and a 200 day moving average price of $168.21. The company has a current ratio of 1.36, a quick ratio of 0.47 and a debt-to-equity ratio of 63.19. Carvana has a 1-year low of $28.35 and a 1-year high of $376.83.

In other Carvana news, Director Michael E. Maroone purchased 25,000 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were bought at an average price of $104.77 per share, with a total value of $2,619,250.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $148.73, for a total value of $148,730.00. The disclosure for this sale can be found here. Insiders have bought 3,687,500 shares of company stock worth $295,619,250 in the last 90 days. Company insiders own 17.67% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley raised its holdings in Carvana by 0.8% in the 2nd quarter. Morgan Stanley now owns 6,570,893 shares of the company’s stock valued at $1,983,226,000 after acquiring an additional 50,682 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Carvana by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 13,188 shares of the company’s stock valued at $3,976,000 after buying an additional 62 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Carvana by 31.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 11,971 shares of the company’s stock valued at $3,610,000 after purchasing an additional 2,877 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Carvana by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 40,092 shares of the company’s stock valued at $12,089,000 after purchasing an additional 500 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Carvana by 648.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 524 shares of the company’s stock valued at $158,000 after purchasing an additional 454 shares in the last quarter.

Carvana Company Profile (Get Rating)

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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Earnings History and Estimates for Carvana (NYSE:CVNA)

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