Morgan Stanley analyst Daniela Haigian maintained a Buy rating on Carvana Co yesterday and set a price target of $450.00.
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Daniela Haigian’s rating is based on Carvana’s superior customer experience and strong brand perception compared to its competitor, CarMax. The company excels in pricing, ease of website and app navigation, and overall customer trust, which are significant factors contributing to its competitive advantage.
Carvana’s innovative business model positions it well for substantial growth, with expectations to capture a 12% share of the used car market by 2040. The company’s return to growth is reflected in increased brand affinity and online engagement, supporting the view that Carvana is poised for long-term success. This positive outlook underpins the Buy rating and the projected price target.
In another report released on October 1, Jefferies also upgraded the stock to a Buy with a $475.00 price target.
Based on the recent corporate insider activity of 379 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.