Carvana’s (CVNA) Buy Rating Reiterated at Needham & Company LLC

Carvana (NYSE:CVNA)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $120.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 81.05% from the stock’s current price.

Several other brokerages have also recently commented on CVNA. Bank of America boosted their price target on shares of Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Citigroup reissued a “market outperform” rating on shares of Carvana in a research report on Thursday. Robert W. Baird set a $88.00 target price on shares of Carvana in a research report on Friday, May 15th. Morgan Stanley set a $90.00 price objective on Carvana in a research note on Thursday. Finally, UBS Group reaffirmed a “buy” rating and issued a $104.00 price target (up from $97.00) on shares of Carvana in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.65.

Carvana Trading Up 0.3%

Shares of NYSE:CVNA opened at $66.28 on Thursday. The firm has a market cap of $72.70 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 14.83 and a beta of 3.46. Carvana has a 12 month low of $54.46 and a 12 month high of $97.38. The company’s fifty day simple moving average is $67.03 and its 200 day simple moving average is $71.05. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the business earned $1.51 EPS. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, research analysts forecast that Carvana will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 63,750 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $77.44, for a total value of $4,936,672.50. Following the completion of the transaction, the chief financial officer directly owned 1,050,635 shares in the company, valued at approximately $81,359,073.13. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total value of $1,016,750.00. Following the sale, the director directly owned 214,960 shares in the company, valued at $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 396,962 shares of company stock worth $28,525,088. Company insiders own 15.19% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in CVNA. Trust Asset Management LLC increased its position in Carvana by 400.0% in the 2nd quarter. Trust Asset Management LLC now owns 7,785 shares of the company’s stock valued at $512,000 after acquiring an additional 6,228 shares during the period. Annex Advisory Services LLC raised its stake in shares of Carvana by 405.8% during the second quarter. Annex Advisory Services LLC now owns 10,643 shares of the company’s stock valued at $701,000 after acquiring an additional 8,539 shares during the last quarter. Tema ETFs LLC lifted its holdings in shares of Carvana by 451.0% during the second quarter. Tema ETFs LLC now owns 13,919 shares of the company’s stock worth $916,000 after purchasing an additional 11,393 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in shares of Carvana by 400.0% during the second quarter. E. Ohman J or Asset Management AB now owns 21,000 shares of the company’s stock worth $1,382,000 after purchasing an additional 16,800 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in shares of Carvana by 277.0% in the second quarter. Handelsbanken Fonder AB now owns 345,837 shares of the company’s stock worth $22,763,000 after purchasing an additional 254,114 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

More Carvana News

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana reported record Q2 revenue of approximately $7.38 billion, up 52.4% year over year, while retail vehicle sales increased about 40%. Net income reached $513 million and adjusted EBITDA rose to a record $769 million, marking the company’s 10th consecutive quarter of growth and profitability. Carvana Announces Record Second Quarter 2026 Results
• Positive Sentiment: Reported adjusted earnings of $0.42 per share exceeded the $0.38 consensus estimate, and revenue surpassed analysts’ expectations of roughly $6.90 billion. Management also forecast full-year earnings of $2.7 billion to $3.0 billion, implying $1.3 billion to $1.6 billion in the second half. Carvana posts record quarterly profits
• Neutral Sentiment: Carvana expanded same-day delivery service to the Fort Myers area, potentially improving customer convenience and supporting local sales, although the initiative is unlikely to materially affect near-term valuation. Carvana Expands Same-Day Delivery to Fort Myers
• Negative Sentiment: The earnings beat was overshadowed by guidance that missed investor expectations. Analysts viewed the forecast as signaling slower momentum or more cautious profitability assumptions, prompting concern that Carvana’s elevated valuation already prices in much of its recent growth. Carvana’s record quarter overshadowed by soft FY26 outlook

About Carvana

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.