Citigroup Has Lowered Expectations for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price dropped by investment analysts at Citigroup from $93.00 to $90.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 44.57% from the stock’s previous close.

Several other research firms have also recently weighed in on CVNA. Wells Fargo & Company set a $80.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird set a $72.00 price target on shares of Carvana in a research report on Thursday. Evercore set a $75.00 price target on Carvana in a report on Thursday. BTIG Research lowered their price objective on Carvana from $97.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday. Finally, DA Davidson set a $67.00 price objective on Carvana in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $85.86.

Carvana Price Performance

Shares of CVNA traded up $0.81 during mid-day trading on Friday, reaching $62.25. The company had a trading volume of 11,869,577 shares, compared to its average volume of 15,047,780. The company has a market capitalization of $68.28 billion, a price-to-earnings ratio of 34.43, a P/E/G ratio of 14.89 and a beta of 3.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The company’s 50 day simple moving average is $66.97 and its 200 day simple moving average is $70.85. Carvana has a 1-year low of $54.46 and a 1-year high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 39.91% and a net margin of 6.26%.The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 EPS. Analysts expect that Carvana will post 1.63 EPS for the current year.

Insider Activity

In other Carvana news, insider Thomas Taira sold 5,597 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $67.15, for a total value of $375,838.55. Following the completion of the transaction, the insider owned 315,075 shares in the company, valued at $21,157,286.25. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the sale, the chief financial officer directly owned 1,029,580 shares in the company, valued at $70,361,497.20. This trade represents a 5.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 278,212 shares of company stock worth $19,343,496. Corporate insiders own 15.19% of the company’s stock.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after acquiring an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares during the period. State Street Corp grew its stake in shares of Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors increased its holdings in Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana delivered a record Q2 2026, with revenue of $7.38 billion, above the roughly $6.90 billion consensus estimate, and earnings of $0.42 per share versus expectations of $0.39. Net income reached $513 million and adjusted EBITDA rose to a record $769 million, while retail unit sales increased 38% year over year. Carvana Announces Record Second Quarter 2026 Results
• Positive Sentiment: Commentators from LikeFolio and Needham argue that the post-earnings selloff is excessive, citing strong consumer demand, continued customer adoption of Carvana’s online model and potential for significant long-term upside. Needham maintained its buy view, while Barclays retained an overweight rating. Needham says Carvana stock could double as management lowers guidance
• Positive Sentiment: Management highlighted continued platform expansion, inventory growth and AI-driven customer-service efficiencies. Same-day delivery was also expanded to the Fort Myers area, supporting Carvana’s convenience-focused strategy. Carvana Slashes Customer Service Costs Through AI Agent

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.