Carvana Co (NASDAQ:CVNA) Issues Earnings Results, Beats Estimates By $0.02 EPS
Carvana Co (NASDAQ:CVNA) issued its earnings results on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02, Bloomberg Earnings reports. The firm had revenue of $209.37 million during the quarter, compared to analysts’ expectations of $198.84 million. The business’s revenue for the quarter was up 142.0% on a year-over-year basis.
Shares of Carvana (NASDAQ CVNA) traded up 3.55% during midday trading on Tuesday, reaching $19.23. The company’s stock had a trading volume of 964,730 shares. The company has a 50 day moving average of $20.38 and a 200-day moving average of $15.96. Carvana has a 52 week low of $8.14 and a 52 week high of $23.70. The stock’s market capitalization is $289.08 million.
Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $25.00 price target (up from $15.00) on shares of Carvana in a research report on Monday, June 26th. Wedbush assumed coverage on Carvana in a research report on Monday, July 17th. They set a “neutral” rating and a $25.00 price target on the stock. Wells Fargo & Company reaffirmed an “outperform” rating and set a $23.00 price target (up from $19.00) on shares of Carvana in a research report on Monday, June 19th. Robert W. Baird increased their price target on Carvana from $15.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 21st. Finally, Craig Hallum assumed coverage on Carvana in a research report on Monday, May 22nd. They set a “buy” rating and a $16.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.10.
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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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