Carvana Co (NASDAQ:CVNA) – Equities research analysts at William Blair dropped their FY2017 earnings per share (EPS) estimates for Carvana in a research note issued on Tuesday. William Blair analyst S. Zackfia now anticipates that the company will post earnings of ($1.21) per share for the year, down from their prior estimate of ($1.11). William Blair also issued estimates for Carvana’s Q4 2017 earnings at ($0.35) EPS, Q1 2018 earnings at ($0.23) EPS, Q2 2018 earnings at ($0.14) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.58) EPS, FY2019 earnings at $0.77 EPS and FY2020 earnings at $2.02 EPS.
Several other equities research analysts have also commented on the company. B. Riley reissued a “sell” rating and set a $12.00 price target on shares of Carvana in a research note on Wednesday. JMP Securities decreased their price target on Carvana from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday. Robert W. Baird decreased their price target on Carvana from $22.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $14.00 target price (down previously from $20.00) on shares of Carvana in a research note on Wednesday. Finally, BMO Capital Markets reduced their target price on Carvana from $25.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $19.31.
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Shares of Carvana (CVNA) opened at $14.19 on Friday. Carvana has a 52 week low of $8.14 and a 52 week high of $23.70.
Carvana (NASDAQ:CVNA) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $243.61 million.
A number of hedge funds have recently bought and sold shares of the stock. Abrams Bison Investments LLC purchased a new stake in Carvana in the 2nd quarter valued at approximately $51,175,000. FMR LLC purchased a new stake in Carvana in the 2nd quarter valued at approximately $26,992,000. Royal Bank of Canada acquired a new position in Carvana in the 2nd quarter valued at $15,354,000. Principal Financial Group Inc. acquired a new position in Carvana in the 2nd quarter valued at $14,998,000. Finally, Bank of New York Mellon Corp raised its holdings in Carvana by 34.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 698,660 shares of the company’s stock valued at $10,255,000 after acquiring an additional 180,631 shares during the last quarter.
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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