Analysts Update Carvana (CVNA) Price Targets After Stock Split

Carvana Co. (NYSE:CVNA) is one of the 12 Best Revenue Growth Stocks to Buy According to Wall Street Analysts. On May 15, Baird analyst Craig Kennison raised the firm’s price target on Carvana Co. (NYSE:CVNA) from $80 to $88 while maintaining an Outperform rating on the stock. This update came after the firm updated its model following the company’s 5-for-1 stock split.

Earlier, on May 14, Barclays lowered its price target on Carvana Co. (NYSE:CVNA) from $475 to $93 while keeping an Overweight rating on the stock. The research firm pointed to the company’s stock split for the change in its price target.

Barclays noted that Carvana Co. (NYSE:CVNA) is continuing to grow retail volumes at a strong pace, although this growth is slower than the 40% pace seen in the last six quarters.

This was the first split in the company’s history. Mark Jenkins, Carvana Co.’s (NYSE:CVNA) Chief Financial Officer, said the 5 for 1 split of its common stock comes after strong stock gains, with the company reaching record levels “for units and profitability while continuing to lead the industry in growth in 2025.”

Carvana Co. (NYSE:CVNA) operates a platform for buying and selling used cars. It allows customers to browse, research, and purchase vehicles online. The company offers services like financing, trade-ins, and delivery.

READ NEXT: 10 AI Stocks That Are About to Explode and 10 Best Aggressive Growth Stocks to Buy According to Wall Street Analysts.

Disclosure: None.  Follow Insider Monkey on Google News.