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 6.3 %

CVNA Stock traded up $2.98 during trading on Thursday, reaching $50.29. 496,024 shares of the stock were exchanged, compared to its average volume of 12,814,293. The company has a current ratio of 2.32, a quick ratio of 0.47 and a debt-to-equity ratio of 7.64. Carvana has a twelve month low of $19.45 and a twelve month high of $375.30. The firm's 50 day moving average is $27.07 and its 200 day moving average is $76.70. The firm has a market cap of $8.70 billion, a P/E ratio of -7.57 and a beta of 2.68.

Carvana (NYSE:CVNA - Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($2.35) earnings per share for the quarter, missing analysts' consensus estimates of ($1.75) by ($0.60). Carvana had a negative return on equity of 115.22% and a negative net margin of 4.24%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the company earned $0.26 earnings per share. Carvana's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, research analysts forecast that Carvana will post -7.32 EPS for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of recent research reports. 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 target price for the company. Wells Fargo & Company lowered their target price on shares of Carvana from $65.00 to $35.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 8th. Cowen cut their price target on Carvana from $142.00 to $95.00 in a research note on Saturday, August 6th. Morgan Stanley lowered their price objective on Carvana from $105.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 14th. Finally, Robert W. Baird cut their target price on Carvana from $125.00 to $65.00 in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $79.76.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill acquired 94,000 shares of the firm's stock in a transaction on Wednesday, June 15th. The stock was purchased at an average cost of $21.77 per share, with a total value of $2,046,380.00. Following the acquisition, the insider now owns 131,023 shares of the company's stock, valued at approximately $2,852,370.71. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director J Danforth Quayle bought 18,750 shares of the company's stock in a transaction on Tuesday, May 17th. The shares were 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel J. Gill bought 94,000 shares of Carvana stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average cost of $21.77 per share, with a total value of $2,046,380.00. Following the completion of the acquisition, the insider now owns 131,023 shares of the company's stock, valued at $2,852,370.71. The disclosure for this purchase can be found here. Insiders acquired a total of 2,197,008 shares of company stock valued at $47,538,049 over the last three months. Corporate insiders own 10.70% of the company's stock.