Shares of Carvana Co (NYSE:CVNA) tanked in early trading on Thursday, after surging on Wednesday following the company’s upbeat first-quarter (Q1) results.
Here are the key analyst insights:
- BTIG analyst Marvin Fong maintained a Buy rating, and raised the price target from $455 to $485.
- Needham analyst Chris Pierce reiterated a Buy rating, and raised the price target from $500 to $600.
Check out other analyst stock ratings.
BTIG: Carvana vehicles sold up more than 40% for the sixth consecutive quarter. The company’s unit sales came in around 3% higher than the consensus of 182,400 units.
Margins were also higher than expected, Fong said in a note. Retail gross profit per unit (GPU) of $3,250 topped Street expectations of around $3,170, he …