Carvana Co. (NYSE:CVNA) shares traded 2.85% higher at $77.50 on Wall Street last session.
CVNA stock price is now 2.30% away from the 50-day moving average and 54.27% away from the 200-day moving average. The market capitalization of the company currently stands at $9.01B.
With the price target enhanced from $30 to $85, Jefferies Upgraded its rating from Underperform to Hold for Carvana Co. (NYSE: CVNA). On March 08, 2024, RBC Capital Mkts Upgraded its previous ‘Underperform’ rating to ‘Sector Perform’ on the stock increasing its target price from $45 to quote $90, while ‘William Blair’ rates the stock as ‘Outperform’
In other news, GARCIA ERNEST C. II, 10% Owner sold 50,000 shares of the company’s stock on Apr 11 ’24. The stock was sold for $4,006,495 at an average price of $80.13. Upon completion of the transaction, the 10% Owner now directly owns 3,312,500 shares in the company, valued at $256.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 02 ’24, Chief Product Officer GILL DANIEL J. sold 10,335 shares of the business’s stock. A total of $856,234 was realized by selling the stock at an average price of $82.85. This leaves the insider owning 392,038 shares of the company worth $30.38 million. A total of 17.16% of the company’s stock is owned by insiders.
During the past 12 months, Carvana Co. has had a low of $6.70 and a high of $94.04. As of last week, the company has a debt-to-equity ratio of 27.94, a current ratio of 2.16, and a quick ratio of 1.41.
According to the Auto & Truck Dealerships Company, earnings per share came in at -1.51, beating analysts’ expectations of -2 by 0.49. This compares to -$13.96 EPS in the same period last year. The net profit margin was 4.18% and return on equity was -78.96% for CVNA. The company reported revenue of $2.42 billion for the quarter, compared to $2.84 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.56 percent. For the current quarter, analysts expect CVNA to generate $2.66B in revenue.
