BNP Paribas Exane Increases Carvana (NYSE:CVNA) Price Target to $429.00

Key Points

• BNP Paribas Exane raised its price target on Carvana to $429 (from $388), implying roughly an 11.9% upside from the stock's then-current price.
• Carvana reported a beat in Q1—EPS of $1.69 vs. $1.58 expected and revenue of $6.43B—prompting multiple broker upgrades and a consensus analyst target of $462.22 with a "Moderate Buy" stance.
• The company will implement a 5-for-1 stock split (shares distributed after market close on May 6, effective before the open on May 7), while insiders have recently sold shares amid heavy institutional accumulation.

Carvana (NYSE:CVNA - Get Free Report) had its price objective hoisted by equities research analysts at BNP Paribas Exane from $388.00 to $429.00 in a research report issued on Thursday,MarketScreener reports. BNP Paribas Exane's price objective would suggest a potential upside of 11.92% from the stock's current price.

CVNA has been the topic of a number of other research reports. Stephens raised their target price on shares of Carvana from $430.00 to $485.00 in a research note on Thursday. Bank of America increased their price target on Carvana from $360.00 to $410.00 and gave the company a "neutral" rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $537.00 price objective on shares of Carvana in a research report on Thursday. Barclays restated an "overweight" rating and set a $475.00 price objective (up from $430.00) on shares of Carvana in a research note on Thursday. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $462.22.

Carvana Stock Down 3.2%

Shares of NYSE:CVNA opened at $383.30 on Thursday. The stock has a 50-day simple moving average of $336.94 and a 200-day simple moving average of $371.95. The stock has a market capitalization of $83.89 billion, a P/E ratio of 46.63 and a beta of 3.61. Carvana has a 1 year low of $250.89 and a 1 year high of $486.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31.

Carvana shares are going to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.11. Carvana had a net margin of 6.40% and a return on equity of 46.63%. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.12 billion. Equities analysts forecast that Carvana will post 6.97 earnings per share for the current year.

Insider Buying and Selling at Carvana

In related news, insider Thomas Taira sold 3,770 shares of the business's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $341.00, for a total value of $1,285,570.00. Following the transaction, the insider owned 58,564 shares in the company, valued at approximately $19,970,324. The trade was a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $309.86, for a total value of $3,098,600.00. Following the completion of the transaction, the chief operating officer directly owned 92,924 shares of the company's stock, valued at $28,793,430.64. This represents a 9.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 56,170 shares of company stock valued at $20,020,204. Company insiders own 15.19% of the company's stock.

Institutional Trading of Carvana

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company's stock worth $7,481,081,000 after buying an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock valued at $7,082,804,000 after acquiring an additional 3,328,115 shares during the last quarter. State Street Corp boosted its stake in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company's stock valued at $2,411,751,000 after acquiring an additional 2,764,759 shares during the last quarter. Capital Research Global Investors grew 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 worth $2,405,959,000 after acquiring an additional 1,711,144 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 worth $1,632,763,000 after acquiring an additional 1,382,852 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Q1 results beat expectations: Carvana reported record retail unit sales (187,393 units), revenue and EPS of $1.69 that topped estimates — management highlighted record GAAP operating income and adjusted EBITDA, underpinning the bullish reaction. Carvana Announces Record First Quarter 2026 Results
• Positive Sentiment: Needham issued a bullish forecast and raised its price target sharply (to $600), citing strong growth and margin progress — a highly visible endorsement that lifts investor conviction. Needham & Company LLC Issues Positive Forecast for Carvana NYSE: CVNA Stock Price
• Positive Sentiment: BTIG also upgraded its outlook and raised its target, joining multiple firms that bumped targets after the quarter — the analyst momentum is pressuring upside estimates and supporting the rally. BTIG Research Issues Positive Forecast for Carvana NYSE: CVNA Stock Price
• Positive Sentiment: Wider analyst re-rating: several brokerages (Morgan Stanley, JPMorgan, Wells Fargo and others) raised price targets and overweight/buy ratings after Q1, signaling broad Wall Street confidence and increasing potential upside. Wall Street Showers Carvana With Price Target Hikes
• Neutral Sentiment: Consensus sentiment is now around "Moderate Buy" as brokerages update models; this consensus supports demand but also sets expectations higher. Carvana Co. NYSE: CVNA Receives Consensus Rating of "Moderate Buy" from Brokerages
• Neutral Sentiment: Valuation is being debated: recent share strength has pushed CVNA to a premium P/E and elevated multiples versus peers — investors are weighing growth vs. current valuation. Assessing Carvana (CVNA) Valuation
• Negative Sentiment: Price pullback / profit-taking: despite the upbeat quarter, CVNA experienced an intraday pullback after the print (reported ~3% drop in one coverage piece) as some traders booked gains and digested shorter-term risks. Carvana (CVNA) Stock Drops 3% After First Quarter Earnings Despite Revenue Surge
• Negative Sentiment: Margin pressure and rising costs flagged: the company reported strong unit and revenue growth but noted weaker per‑unit margins and higher operating costs — a read-through that could temper near-term margin expansion expectations. Carvana Co (CVNA) Q1 2026 Earnings Call Highlights

Carvana Company Profile

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.

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