Needham & Company LLC Increases Carvana (NYSE:CVNA) Price Target to $600.00

Carvana (NYSE:CVNA) had its target price increased by stock analysts at Needham & Company LLC from $500.00 to $600.00 in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 56.83% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Evercore increased their target price on shares of Carvana from $390.00 to $400.00 in a research note on Tuesday. Stephens reiterated an “overweight” rating and issued a $519.00 target price on shares of Carvana in a research note on Thursday, February 19th. DA Davidson lowered their target price on shares of Carvana from $470.00 to $320.00 and set a “neutral” rating on the stock in a research note on Thursday, February 19th. Morgan Stanley reiterated an “overweight” rating on shares of Carvana in a research note on Thursday, January 8th. Finally, Wells Fargo & Company lowered their target price on shares of Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $466.13.

Carvana Stock Performance

NYSE CVNA opened at $382.57 on Thursday. Carvana has a 1 year low of $250.89 and a 1 year high of $486.89. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.73. The stock has a market capitalization of $83.73 billion, a PE ratio of 46.54 and a beta of 3.55. The company’s 50 day simple moving average is $336.94 and its two-hundred day simple moving average is $371.95.

Shares of Carvana are scheduled to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, May 6th.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.11. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Analysts predict that Carvana will post 6.97 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, Director J Danforth Quayle sold 2,900 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $309.97, for a total value of $898,913.00. Following the transaction, the director owned 41,913 shares of the company’s stock, valued at $12,991,772.61. This represents a 6.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Taira sold 3,770 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $341.00, for a total transaction of $1,285,570.00. Following the completion of the transaction, the insider directly owned 58,564 shares in the company, valued at $19,970,324. The trade was a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 79,920 shares of company stock worth $29,201,797. Company insiders own 15.19% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in shares of Carvana by 124.9% in the 3rd quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock valued at $100,316,000 after purchasing an additional 147,683 shares in the last quarter. Gavilan Investment Partners LLC purchased a new stake in shares of Carvana in the 3rd quarter valued at $26,030,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Carvana by 11.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after purchasing an additional 64,424 shares in the last quarter. Strs Ohio boosted its stake in shares of Carvana by 89.9% in the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock valued at $14,243,000 after purchasing an additional 17,878 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Carvana by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock valued at $76,662,000 after purchasing an additional 24,129 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Key Carvana News

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Q1 results: Carvana reported record retail unit sales, revenue and profit (EPS and revenue beat consensus), driving confidence in growth and profitability execution. Carvana Announces Record First Quarter 2026
• Positive Sentiment: Broad analyst upgrades: Multiple firms raised price targets and ratings after the quarter (Needham to $600, Morgan Stanley to $510, JPMorgan to $465, Wells Fargo to $475, BTIG to $485, etc.), signaling strong buy-side conviction on upside from current levels. Wall Street Showers Carvana With Price Target Hikes
• Positive Sentiment: Industry demand tailwinds: Management and coverage note inflation-driven used-car demand and capacity expansion (reconditioning and capex) that support faster unit growth and longer-term scaling. Carvana Sets Records as Inflation Drives Used Car Demand
• Neutral Sentiment: Valuation focus: Recent rally (roughly a 1‑month surge) has drawn attention to Carvana’s premium P/E and elevated multiples, prompting some investors to reassess upside relative to valuation. Assessing Carvana Valuation After Recent Share Price Strength
• Negative Sentiment: Contrasting analyst signal: DA Davidson raised its target to $335 but kept a “neutral” rating — that target implies downside versus recent levels and injects caution into the upgrade momentum. DA Davidson Price Target Note
• Negative Sentiment: Profit vs. margin trade-off: Despite record profit, management flagged lower per‑unit margins and higher operating costs, which could cap near‑term margin expansion and leave some investors taking profits. Q1 Earnings Call Highlights
• Negative Sentiment: Immediate market reaction: The stock trimmed gains after the print — some traders sold into the headline beat, producing a short-term pullback despite fundamentally positive results. Stock Reaction After Earnings

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.