What Happened?
Shares of online used car dealer Carvana (NYSE: CVNA) jumped 1.1% in the morning session after the stock's positive momentum continued as JPMorgan Chase & Co. boosted its price target on the stock, adding to a wave of positive sentiment from Wall Street.
The investment bank raised its target price to $425 from $415 and kept an "overweight" rating on the shares. This move followed similar actions from other firms, including Piper Sandler and JMP Securities, who also recently upped their price targets. This growing confidence appeared tied to the company's strong performance, which included a noteworthy revenue growth rate of nearly 42% as of the end of June 2025. The broad analyst optimism signaled strong conviction in the company's future prospects.
After the initial pop the shares cooled down to $386.72, up 2.3% from previous close.
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What Is The Market Telling Us
Carvana’s shares are extremely volatile and have had 39 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 1 day ago when the stock gained 3.7% on the news that JPMorgan Chase & Co. boosted its price target on the stock, adding to a wave of positive sentiment from Wall Street. The investment bank raised its target price to $425 from $415 and kept an "overweight" rating on the shares. This move followed similar actions from other firms, including Piper Sandler and JMP Securities, who also recently upped their price targets. This growing confidence appeared tied to the company's strong performance, which included a noteworthy revenue growth rate of nearly 42% as of the end of June 2025. Overall, analysts presented an average 12-month price target of $412.84, which marked a significant increase from previous estimates, signaling widespread optimism about the company's future prospects.
Carvana is up 93.8% since the beginning of the year, and at $386.72 per share, it is trading close to its 52-week high of $390.17 from July 2025. Investors who bought $1,000 worth of Carvana’s shares 5 years ago would now be looking at an investment worth $2,227.
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