Ronald Josey, an analyst from Citi, maintained the Buy rating on Carvana Co (CVNA – Research Report). The associated price target remains the same with $280.00.
Ronald Josey has given his Buy rating due to a combination of factors that indicate a positive outlook for Carvana Co. The company’s first-quarter results are anticipated to surpass both his and the consensus expectations, particularly in areas such as retail sales, gross profit per unit (GPU), and EBITDA. Josey’s proprietary tracking suggests a significant year-over-year increase in retail unit sales, with momentum continuing into April 2025.
Furthermore, Josey is optimistic about Carvana’s advertising strategies, which are expected to drive demand amid improving supply conditions. He also notes the potential benefits from tariffs on used vehicles, which could positively impact supply and demand dynamics. Additionally, Carvana’s efforts to enhance its infrastructure and operational efficiencies are likely to support durable margins and profitability, reinforcing the Buy rating.
In another report released on May 1, Bank of America Securities also maintained a Buy rating on the stock with a $290.00 price target.
Based on the recent corporate insider activity of 256 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVNA in relation to earlier this year.