Carvana (CVNA)

• Market cap: $28.8B
• 1 day: 0.66%
• 5 days: -9.52%
• 1 month: -8.20%
• 3 months: 29.11%
• 6 months: 104.33%
• Year to date: 359.30%
• 1 year: 304.80%
• 5 years: 134.03%
• 10 years: 1,922.16%
• Sector: Consumer Discretionary
• Industry: Auto Dealers & Gasoline Stations

About: Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.

Employees: 13,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

161% more first-time investments, than exits

New positions opened: 115 | Existing positions closed: 44

31% more capital invested

Capital invested by funds: $15.7B [Q2] → $20.6B (+$4.89B) [Q3]

18% more funds holding

Funds holding: 405 [Q2] → 476 (+71) [Q3]

13% more repeat investments, than reductions

Existing positions increased: 169 | Existing positions reduced: 149

8.88% less ownership

Funds ownership: 104.36% [Q2] → 95.48% (-8.88%) [Q3]

9% less funds holding in top 10

Funds holding in top 10: 33 [Q2] → 30 (-3) [Q3]

30% less call options, than puts

Call options by funds: $2.28B | Put options by funds: $3.28B

Research analyst outlook

12 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $175 22% downside
• Avg. target: $245 9% upside
• High target: $330 47% upside

12 analyst ratings

• positive: 5 42%
• neutral: 7 58%
• negative: 0 0%

JMP Securities Nicholas Jones 68% 1-year accuracy 54 / 80 met price target	43% upside $320	Market Outperform Reiterated	16 Dec 2024
Needham Chris Pierce 52% 1-year accuracy 33 / 64 met price target	47% upside $330	Buy Maintained	9 Dec 2024
Evercore ISI Group Michael Montani 76% 1-year accuracy 13 / 17 met price target	9% upside $245	In-Line Maintained	3 Dec 2024
Morgan Stanley Adam Jonas 56% 1-year accuracy 33 / 59 met price target	16% upside $260	Equal-Weight Upgraded	5 Nov 2024
Piper Sandler Alexander Potter 62% 1-year accuracy 13 / 21 met price target	0% upside $225	Neutral Maintained	31 Oct 2024