Carvana price target raised to $500 from $400 at Wedbush

Wedbush analyst Scott Devitt raised the firm’s price target on Carvana (CVNA) to $500 from $400 and keeps an Outperform rating on the shares. Consumer internet companies delivered strong returns in 2025, averaging 23% across 24 covered companies versus 19% for the NASDAQ, the analyst tells investors in a research note. In 2026, performance is expected to diverge as investors weigh factors such as AV disruption, AI monetization, ongoing investment cycles, and growing adoption of agentic AI, the firm says.