These are top 10 stocks traded on the Robinhood UK platform in July
In a remarkable display of market resilience, Carvana Co (NYSE:CVNA). shares have surged to a 52-week high, reaching a price level of $323.21. With a market capitalization of $69.5 billion and an InvestingPro Financial Health score rated as "GREAT," the company has demonstrated strong fundamental performance. This peak comes amidst a dynamic year for the online used car retailer, which has seen its stock value skyrocket by over 212% over the past year. Investors have shown increasing confidence in Carvana’s business model and growth prospects, with revenue growing 32% and analysts expecting 30% growth in 2025. According to InvestingPro, the stock is currently trading near its Fair Value, with 22 additional ProTips available for subscribers seeking deeper insights into CVNA’s investment potential. The company’s comprehensive Pro Research Report, part of InvestingPro’s coverage of 1,400+ US stocks, offers detailed analysis for informed investment decisions.
In other recent news, Carvana has been the focus of several analyst updates following its impressive quarterly performance. RBC Capital Markets increased its price target for Carvana shares to $340, citing robust first-quarter results and the company’s strategic leverage of gross profit per unit and fixed costs. Piper Sandler also raised its price target to $315, highlighting Carvana’s high-visibility growth and operating leverage. Needham maintained a $340 price target, emphasizing Carvana’s market potential and strong business model.
Morgan Stanley (NYSE:MS) adjusted its price target to $290, reflecting confidence in Carvana’s growth trajectory and market position. DA Davidson, while maintaining a Neutral rating, set a price target of $260, acknowledging Carvana’s impressive performance this earnings season. Analysts have noted Carvana’s ability to surpass expectations on key financial metrics and distance itself from competitors. These developments underscore a broader optimism about Carvana’s potential for continued growth and profitability in the competitive used car industry.
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