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Investing.com - DA Davidson has raised its price target on Carvana (NYSE:CVNA) to $380.00 from $260.00 while maintaining a Neutral rating on the stock. According to InvestingPro data, the stock has delivered an impressive 150% return over the past year and is currently trading near its 52-week high.
The online used car retailer beat consensus estimates on most metrics, including year-over-year growth in used vehicle units, according to the research firm.
Despite the strong performance, Carvana did not accelerate its growth rate compared to the previous quarter’s 46% increase, contrary to some analyst expectations.
DA Davidson noted that while competitors showed acceleration in growth, Carvana’s growth rate and market share gains remain "orders of magnitude higher than others, on bigger numbers."
The research firm concluded that the lack of growth acceleration likely "doesn’t matter much" given Carvana’s overall strong performance relative to the broader used vehicle market.
In other recent news, Carvana reported its second-quarter 2025 earnings, which significantly surpassed Wall Street expectations. The company achieved a revenue of $4.84 billion, marking a 42% increase from the previous year. Earnings per share also exceeded forecasts, highlighting Carvana’s strategic focus on operational efficiency and market expansion. Following these results, several analyst firms adjusted their price targets for Carvana. JPMorgan raised its price target to $415, noting that Carvana’s adjusted EBITDA of $601 million was well above estimates. Needham increased its price target to $500, citing Carvana as a leading growth story in its industry. BTIG also raised its target to $450, emphasizing the company’s strong retail gross profit per unit and operational performance. Additionally, JMP Securities adjusted its target to $460, acknowledging Carvana’s revenue and EBITDA exceeding consensus expectations by 6% and 9%, respectively.
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