Carvana climbs after brokers hike target price on quarterly profit boost

Carvana Co

30/04/2026 10:25

** Online used-car retailer Carvana CVNA.N stock up 9.3% at $433.99 premarket

** Co reports Q1 profit of $405 mln vs $373 mln yr-ago

** Q1 rev of $6.43 bln beat analyst estimate of $6.08 bln

** Average new vehicle price around the $50,000 mark, raising demand for used cars

** BITG lifts PT to $485 from $455; says CVNA is “back in the groove” after Q1 beat, citing strong unit growth, margin upside and lean inventory

** J.P. Morgan hikes to $465 from $455; says CVNA delivered on quality and quantity

** 17 out of 26 analysts rate stock "buy" or higher, eight rate it "hold", one "sell"; median PT at $445 - LSEG-compiled data

** As of last close, CVNA down 6% YTD

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))