Q1 2018 Earnings Forecast for Carvana Co (CVNA) Issued By William Blair
Carvana Co (NASDAQ:CVNA) – Research analysts at William Blair boosted their Q1 2018 earnings per share (EPS) estimates for shares of Carvana in a research note issued to investors on Monday. William Blair analyst S. Zackfia now expects that the company will post earnings of ($0.20) per share for the quarter, up from their prior forecast of ($0.22). William Blair also issued estimates for Carvana’s Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.31) EPS, FY2019 earnings at $1.11 EPS and FY2020 earnings at $2.42 EPS.
A number of other equities analysts also recently weighed in on the company. Barrington Research assumed coverage on Carvana in a research note on Friday, October 27th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded Carvana from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Monday, October 16th. Consumer Edge restated an “outperform” rating and issued a $23.00 target price on shares of Carvana in a research note on Monday, October 2nd. B. Riley assumed coverage on Carvana in a research note on Friday, September 22nd. They issued a “sell” rating and a $12.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and issued a $18.14 target price (down previously from $20.00) on shares of Carvana in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.01.
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Carvana (NASDAQ:CVNA) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.02. The business had revenue of $209.37 million during the quarter, compared to analyst estimates of $198.84 million. The firm’s revenue for the quarter was up 142.0% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of CVNA. Spark Investment Management LLC purchased a new position in Carvana in the second quarter valued at approximately $2,274,000. Schwab Charles Investment Management Inc. purchased a new position in Carvana in the second quarter valued at approximately $508,000. Rhumbline Advisers purchased a new position in Carvana in the second quarter valued at approximately $392,000. ClariVest Asset Management LLC purchased a new position in Carvana in the second quarter valued at approximately $190,000. Finally, Bank of New York Mellon Corp purchased a new position in Carvana in the second quarter valued at approximately $10,604,000.
Carvana Company Profile
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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