What is Zacks Research’s Forecast for Carvana Q4 Earnings?

Carvana Co. (NYSE:CVNA) – Investment analysts at Zacks Research upped their Q4 2025 earnings per share estimates for Carvana in a research report issued on Monday, January 5th. Zacks Research analyst Team now expects that the company will post earnings of $1.06 per share for the quarter, up from their previous estimate of $0.74. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Carvana’s current full-year earnings is $2.85 per share. Zacks Research also issued estimates for Carvana’s Q3 2026 earnings at $2.05 EPS, Q1 2027 earnings at $2.79 EPS, Q4 2027 earnings at $1.98 EPS and FY2027 earnings at $11.06 EPS.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS.

A number of other equities research analysts have also recently commented on the company. Evercore ISI raised their price objective on Carvana from $420.00 to $425.00 and gave the company an “in-line” rating in a research note on Tuesday, December 23rd. Citigroup boosted their price target on shares of Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Stephens restated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a report on Tuesday, September 23rd. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carvana in a research report on Friday, November 21st. They set a “buy” rating and a $395.00 target price for the company. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $451.14.

Carvana Stock Up 2.4%

Shares of NYSE CVNA opened at $450.97 on Thursday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The firm has a market cap of $98.10 billion, a PE ratio of 102.96, a P/E/G ratio of 1.05 and a beta of 3.54. The company’s fifty day simple moving average is $385.68 and its 200 day simple moving average is $365.63. Carvana has a 12-month low of $148.25 and a 12-month high of $485.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hilltop National Bank bought a new stake in Carvana during the second quarter valued at approximately $25,000. ORG Partners LLC lifted its holdings in shares of Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after acquiring an additional 87 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in Carvana in the third quarter worth $38,000. Steigerwald Gordon & Koch Inc. bought a new position in Carvana in the third quarter valued at $38,000. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In related news, Director Michael E. Maroone sold 30,928 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the sale, the director owned 143,573 shares in the company, valued at approximately $57,478,014.82. This trade represents a 17.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction on Monday, December 8th. The shares were sold at an average price of $439.50, for a total value of $35,160,000.00. Following the sale, the insider directly owned 191,106 shares of the company’s stock, valued at $83,991,087. This represents a 29.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 466,452 shares of company stock valued at $191,565,331. Corporate insiders own 17.12% of the company’s stock.

Carvana News Summary

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Jefferies reiterated a “Buy” and continues to point to strong end‑of‑year momentum, keeping a high price target that implies meaningful upside — investors see this as validation of demand and margin progress. Jefferies reiterates Buy, $550 PT
• Positive Sentiment: Analysts at Zacks raised multiple near‑term and full‑year EPS estimates (Q1/Q2/Q3 2026–27 and FY2026), lifting revenue/profit expectations — these model upgrades support higher forward earnings multiples and explain part of the rally.
• Positive Sentiment: Several sell‑side firms have recently raised price targets or maintained bullish ratings (examples include Wedbush and Argus), contributing to optimistic analyst consensus and buying interest.
• Neutral Sentiment: Broader market momentum and a recent Zacks/market write‑up noted Carvana outperformed in the latest session — helpful context but not a company‑specific catalyst. Zacks market note
• Neutral Sentiment: Institutional ownership is high (~57%) and analysts’ average target remains elevated — that amplifies moves on analyst notes but also raises sensitivity to any negative news.
• Negative Sentiment: Insider selling: a Carvana VP disclosed a ~$419K sale and another reporting of a 10,000‑share sale were filed recently — while single insider sales can be routine, investors sometimes view them as a near‑term headwind. Insider transaction filing Additional insider sale
• Negative Sentiment: Gordon Haskett issued a more pessimistic forecast / lowered target recently, and some option‑market flow showed moderate bearish positioning — these counter signals add volatility risk. Gordon Haskett note Options flow
• Negative Sentiment: Valuation/earnings‑jitter pieces highlight insider sales and upcoming earnings as potential risks, reminding investors that a high multiple and sensitivity to execution can quickly reverse gains. Valuation / earnings risks

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.