Thu Jan 02 15:30:00 UTC 2025: **Carvana Stock Receives Upgraded Price Targets Amidst Mixed Analyst Ratings**

NEW YORK, NY – January 19, 2024 – Carvana (NYSE: CVNA) saw its stock price rise on Thursday, boosted by a reiterated overweight rating and increased price target from Stephens, who set a $300.00 price objective, representing a potential 45.36% upside. This follows a flurry of recent activity from other analysts.

While Stephens’ optimistic outlook is notable, the overall analyst sentiment remains mixed. JMP Securities maintained a “market outperform” rating with a $320.00 target price, while others offered more cautious assessments. Wedbush upgraded its target to $175.00 but maintained a “neutral” rating, and Robert W. Baird and Piper Sandler also issued “neutral” ratings with target prices of $240.00 and $225.00, respectively. Jefferies Financial Group gave Carvana a “hold” rating with a $185.00 target price.

Currently, MarketBeat data indicates an average analyst rating of “Hold” with an average price target of $229.18, based on eleven “hold” ratings and eight “buy” ratings.

Carvana’s stock closed at $206.39 on Thursday, up $3.03, on a trading volume of 4,267,374 shares. The company’s recent earnings report showed strong performance, exceeding analysts’ expectations with $0.64 EPS and $3.66 billion in revenue for the quarter, representing a 31.8% increase year-over-year. Analysts predict $0.76 EPS for the current year.

However, recent insider trading activity has seen significant sales of Carvana stock. Daniel J. Gill and Ryan S. Keeton sold 44,000 and 24,845 shares, respectively. Over the past three months, insiders have sold a total of 1,341,908 shares, amounting to $271,841,785. Despite this, institutional investors remain active, with several firms increasing their holdings in recent quarters.

Carvana operates an online platform for buying and selling used cars in the U.S., utilizing technology to streamline the process from vehicle research to delivery. Despite the recent positive price target adjustments, MarketBeat notes that Carvana is not among the top five stocks recommended by their top-rated analysts.

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