Carvana (NYSE:CVNA) released its earnings results on Wednesday. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.16), Fidelity Earnings reports. Carvana had a negative net margin of 3.43% and a negative return on equity of 90.20%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion.
CVNA traded down $5.86 during midday trading on Friday, reaching $82.91. 4,120,444 shares of the company’s stock were exchanged, compared to its average volume of 1,859,087. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of -28.89 and a beta of 2.19. The company has a quick ratio of 0.92, a current ratio of 2.16 and a debt-to-equity ratio of 2.78. Carvana has a one year low of $40.91 and a one year high of $115.23. The business has a 50-day simple moving average of $89.54 and a two-hundred day simple moving average of $84.23.
CVNA has been the subject of several research reports. Deutsche Bank initiated coverage on shares of Carvana in a research note on Monday. They issued a “hold” rating and a $120.00 target price for the company. JMP Securities increased their target price on shares of Carvana from $92.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday. Needham & Company LLC increased their target price on shares of Carvana from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America increased their target price on shares of Carvana from $86.00 to $105.00 and gave the company a “buy” rating in a research note on Friday. Finally, ValuEngine cut shares of Carvana from a “hold” rating to a “sell” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Carvana currently has a consensus rating of “Hold” and an average price target of $91.33.
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 proprietary 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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