Carvana - CVNA Stock Forecast, Price & News

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. Carvana Co. was founded in 2012 and is headquartered in Tempe, Arizona.

Carvana Stock Up 0.5 %

Shares of NYSE:CVNA traded up $0.23 on Friday, reaching $50.36. 203,005 shares of the company's stock traded hands, compared to its average volume of 12,659,514. The business's 50 day simple moving average is $27.47 and its two-hundred day simple moving average is $75.96. Carvana has a 12 month low of $19.45 and a 12 month high of $365.04. The company has a market cap of $9.50 billion, a price-to-earnings ratio of -7.46 and a beta of 2.68. The company has a quick ratio of 0.47, a current ratio of 2.32 and a debt-to-equity ratio of 7.64.

Carvana (NYSE:CVNA - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($1.75) by ($0.60). The company had revenue of $3.88 billion during the quarter, compared to analysts' expectations of $3.99 billion. Carvana had a negative return on equity of 115.22% and a negative net margin of 4.24%. The business's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. As a group, equities research analysts forecast that Carvana will post -7.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVNA shares. Truist Financial cut their target price on shares of Carvana from $160.00 to $80.00 and set a "na" rating on the stock in a report on Monday, May 16th. Morgan Stanley cut their price target on shares of Carvana from $105.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, July 14th. Stifel Nicolaus lowered their price objective on shares of Carvana from $48.00 to $34.00 and set a "hold" rating for the company in a research note on Tuesday, June 28th. Robert W. Baird cut their target price on Carvana from $125.00 to $65.00 in a research note on Wednesday, May 11th. Finally, Cowen lowered their price target on Carvana from $142.00 to $95.00 in a research report on Saturday, August 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of "Hold" and a consensus target price of $79.76.

Insider Activity

In related news, Director J Danforth Quayle purchased 18,750 shares of the stock in a transaction dated Tuesday, May 17th. The stock was purchased at an average price of $39.14 per share, with a total value of $733,875.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at $489,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, insider Paul W. Breaux bought 14,000 shares of Carvana stock in a transaction on Tuesday, May 31st. The stock was acquired at an average price of $31.09 per share, with a total value of $435,260.00. Following the acquisition, the insider now owns 78,240 shares in the company, valued at $2,432,481.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J Danforth Quayle purchased 18,750 shares of the firm's stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average price of $39.14 per share, with a total value of $733,875.00. Following the purchase, the director now directly owns 12,500 shares of the company's stock, valued at $489,250. The disclosure for this purchase can be found here. Insiders purchased 2,197,008 shares of company stock worth $47,538,049 over the last three months. 10.70% of the stock is currently owned by corporate insiders.