Wells Fargo analyst David Lantz maintained a Buy rating on Carvana Co yesterday and set a price target of $475.00.
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David Lantz has given his Buy rating due to a combination of factors tied to Carvana’s strong operating momentum and attractive long-term prospects. He highlights that first-quarter results surpassed expectations on retail units and adjusted EBITDA, with notable sequential improvement in retail gross profit per unit, while early second-quarter indicators support continued volume growth and market share gains despite near-term macro headwinds.
Lantz also underscores improving cost efficiency, including declining SG&A per unit and better labor productivity, as Carvana scales its network and advances reconditioning and AI-driven process initiatives. In his view, the company’s superior growth versus traditional used-auto dealers, ongoing ADESA integration progress, and the upward revision of his price target from $425 to $475 collectively justify maintaining a Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $475.00 price target.
Based on the recent corporate insider activity of 375 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CVNA in relation to earlier this year.