BTIG Rates Carvana (CVNA) Buy, $87 Price Target
BTIG has reiterated its Buy rating on Carvana Co. with a price target of $87.0 as of October 9, 2026, a 47.28% upside from the current price.
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BTIG rated Carvana Co. ($CVNA) "Buy" with a $87 price target on October 9, 2026.
Since the rating, $CVNA is down 7.7% after 1 week and down 7.7% to date (from the $63.73 close on Oct 9, 2026).
CVNA
Carvana Co.
Key Points
- BTIG maintains a Buy rating on Carvana Co. with a price target of $87.0, unchanged from before.
- As of October 16, 2026, Carvana shares are trading around $59.07, which is about 32.1% below the analyst's target.
- The average price target among analysts is $82.19, indicating a potential upside for investors.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Carvana Co. alert may contain errors. Disclosures
BTIG has reiterated its Buy rating on Carvana Co. (NYSE: CVNA) with a price target of $87.0 as of October 9, 2026. This rating remains unchanged from their earlier stance. The firm believes in the company's potential, even as the stock trades below this target.
Other Institutional Activity in Carvana Co.
Several other institutional investors have adjusted their positions in Carvana recently. Price (T. Rowe) Associates Inc. reduced its stake by 4.7%, ending with approximately 84.7 million shares worth about $4.98 billion. Capital Research Global Investors increased its holdings by 16.9%, now holding around 63.4 million shares valued at about $3.73 billion. Meanwhile, BlackRock Inc. cut its stake by 15.9%, holding 48.5 million shares worth around $2.85 billion. Vanguard Capital Management LLC added a small number of shares, now owning about 45.6 million shares valued at roughly $2.68 billion. FMR, LLC also decreased its holdings by 9.8%, with a total of 33.6 million shares worth about $1.98 billion.
Carvana Co. Stock Up 1.9%
As of October 16, 2026, Carvana shares are trading around $59.07, which is about 39.3% below the 52-week high of $97.38. The stock is also below its 50-day and 200-day moving averages, indicating a challenging price environment. The recent trading price is about 28.1% below the average analyst price target of $82.19.
$CVNA price target
Carvana Co. daily closes and this analyst's $87 target. Not advice.
Recent Earnings
Carvana reported trailing twelve-month revenue of approximately $25.06 billion and an EPS of $1.90. The company has shown a strong revenue growth of 52.4% year-over-year, along with a net margin of 6.3% and a return on equity of 58.8%. The next earnings report is scheduled for October 28, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 target raises vs 3 cuts.
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EPS & revenue
EPS beat estimates by 12.0%. Revenue beat estimates by 3.8%.
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Profit surprise
EBITDA met by 2 percent. Operating income beat by 2 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
7 target raises, 3 target cuts.
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Earnings quality
Gross margin down 1.2 points. Negative free cash flow.
Earnings Call Summary
Carvana sold a record 187,000 cars in the quarter, up 40 percent year over year, and generated $6.43 billion in revenue, up 52 percent. The recon team fixed labor efficiency issues by building new tools and centralizing planning. The company sees the wholesale-to-retail price spread as temporary and expects it to normalize over the next few months.
Guidance Management expects all-time record retail units sold and adjusted EBITDA in the second quarter. The company still targets 13.5 percent adjusted EBITDA margin by 2030 to 2035 while selling 3 million cars per year. Full year 2026 growth expected to be significant on both metrics.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Carvana Co.
Insider trading activity has been noted recently, with Chief Financial Officer Mark W. Jenkins selling 63,750 shares on October 1, 2026, valued at around $3.93 million. Earlier, he sold another 63,750 shares on September 1, 2026, worth about $4.56 million. Officer Thomas Taira sold 16,789 shares on September 14, 2026, valued at approximately $1.18 million. Additionally, Officer Stephen R. Palmer sold 5,000 shares on October 1, 2026, worth about $308,203.
Analysts Set New Price Targets
On October 9, 2026, BTIG reiterated its Buy rating on Carvana with a price target of $87.0. Other analysts have also maintained their ratings, with Oppenheimer keeping an Outperform rating and a target of $90.0, and Stephens & Co. maintaining an Overweight rating with a target of $83.0. The consensus among analysts is a Buy recommendation with a mean price target of $82.19.
About Carvana Co.
Carvana Co. operates an online platform for buying and selling used cars, providing services like vehicle inspection, financing, and logistics. Founded in 2012 and based in Tempe, Arizona, Carvana has rapidly grown to become a significant player in the auto dealership industry.
Bottom Line
Investors should monitor Carvana's upcoming earnings report on October 28, 2026, for further insights into its financial health. With analysts maintaining a positive outlook, the focus will be on how the company navigates its current stock price challenges.
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Source: BTIG's rating change on $CVNA (Oct 9, 2026). Written by software, not financial advice. How we make alerts