Carvana (CVNA)

• Market cap: $52.2B
• 1 day: 3.69%
• 5 days: 2.81%
• 1 month: 5.16%
• 3 months: 28.6%
• 6 months: 102.71%
• Year to date: 89.45%
• 1 year: 141.45%
• 5 years: 127.14%
• 10 years: 3,305.95%
• Sector: Consumer Discretionary
• Industry: Auto & Truck Dealerships

About: Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.

Employees: 17,400

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

195% more first-time investments, than exits

New positions opened: 195 | Existing positions closed: 66

74% more capital invested

Capital invested by funds: $25.5B [Q1] → $44.3B (+$18.8B) [Q2]

47% more call options, than puts

Call options by funds: $7.79B | Put options by funds: $5.29B

43% more repeat investments, than reductions

Existing positions increased: 281 | Existing positions reduced: 197

20% more funds holding

Funds holding: 603 [Q1] → 726 (+123) [Q2]

6.46% more ownership

Funds ownership: 90.84% [Q1] → 97.29% (+6.46%) [Q2]

3% less funds holding in top 10

Funds holding in top 10: 38 [Q1] → 37 (-1) [Q2]

Research analyst outlook

14 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $329
• Avg. target: $426
• High target: $500

14 analyst ratings

• positive: 11 79%
• neutral: 3 21%
• negative: 0 0%

JP Morgan Rajat Gupta	$425	Overweight Maintained	17 Sep 2025
Evercore ISI Group Michael Montani	$370	In-Line Maintained	12 Aug 2025
Citigroup Ronald Josey	$490	Buy Maintained	31 Jul 2025
DA Davidson Michael Baker	$380	Neutral Maintained	31 Jul 2025
RBC Capital Brad Erickson	$460	Outperform Maintained	31 Jul 2025