Where is Carvana Co. (CVNA) Headed According to Analysts?

Carvana Co. (NYSE:CVNA) is one of the best automotive stocks to buy according to hedge funds. On August 25, Citizens JMP analyst Andrew Boone reiterated a buy rating on Carvana Co. (NYSE:CVNA) with a $460 price target.

Carvana Co. (CVNA) "Goes Higher," Says Jim Cramer

Similarly, Bank of America Securities analyst Mike McGovern maintained a bullish stance on the stock on August 20, setting a price target of $425. The same day, Citi analyst Ronald Josey reiterated a Buy rating on Carvana Co. (NYSE:CVNA) with a $490 price target.

However, Evercore ISI analyst Michael Montani reiterated a Hold rating on the stock on August 12, while raising the price target from $365 to $370.

The stock’s median price target of $371.92 implies an upside of 14.27% from current levels.

Headquartered in Tempe, AZ, Carvana Co. (NYSE:CVNA) is an e-commerce platform and a holding company involved in the buying and selling of used cars.

While we acknowledge the potential of CVNA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVNA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.