Carvana (CVNA)

• Market cap: $36B
• 1 day: -6.10%
• 5 days: 5.36%
• 1 month: 21.63%
• 3 months: 0.12%
• 6 months: 7.22%
• Year to date: 34.36%
• 1 year: 122.67%
• 5 years: 166.34%
• 10 years: 2,315.50%
• 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 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

171% more first-time investments, than exits

New positions opened: 149 | Existing positions closed: 55

23% more capital invested

Capital invested by funds: $20.6B [Q3] → $25.4B (+$4.78B) [Q4]

18% more funds holding

Funds holding: 479 [Q3] → 566 (+87) [Q4]

17% more funds holding in top 10

Funds holding in top 10: 30 [Q3] → 35 (+5) [Q4]

15% more repeat investments, than reductions

Existing positions increased: 199 | Existing positions reduced: 173

1.64% more ownership

Funds ownership: 95.47% [Q3] → 97.11% (+1.64%) [Q4]

29% less call options, than puts

Call options by funds: $3.09B | Put options by funds: $4.33B

Research analyst outlook

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

• Low target: $240 10% downside
• Avg. target: $298 11% upside
• High target: $340 27% upside

13 analyst ratings

• positive: 10 77%
• neutral: 3 23%
• negative: 0 0%

Citigroup Ronald Josey 45% 1-year accuracy 26 / 58 met price target	21% upside $325	Buy Maintained	8 May 2025
B of A Securities Michael McGovern 39% 1-year accuracy 7 / 18 met price target	10% upside $295	Buy Maintained	8 May 2025
RBC Capital Brad Erickson 48% 1-year accuracy 29 / 60 met price target	27% upside $340	Outperform Maintained	8 May 2025
Piper Sandler Alexander Potter 65% 1-year accuracy 13 / 20 met price target	17% upside $315	Overweight Maintained	8 May 2025
Wells Fargo David Lantz 57% 1-year accuracy 4 / 7 met price target	16% upside $310	Overweight Maintained	8 May 2025