Wedbush has upgraded Carvana Co (CVNA) to Outperform from Neutral, signaling a more favorable outlook for the online used car retailer.
This upgrade comes as Carvana, headquartered in Tempe, Arizona, operates a robust e-commerce platform for buying and selling used vehicles. The company has a market capitalization of $68.8 billion and reported a trailing twelve-month price-to-earnings ratio of 109.31, with earnings per share at $4.38.
The move underscores a shift in analyst sentiment, suggesting improved fundamentals or confidence in the company's strategic direction. Investors may interpret this change as a positive sign for Carvana's future performance, especially after its recent earnings report for Q3 2025, which showed an EPS of $1.03, falling short of the $1.29 estimate.
Looking ahead, Carvana is set to report its next earnings on July 28, 2026, with estimates of $1.89 EPS and $6.4 billion in revenue. Analyst consensus currently leans towards a Buy, with 29 analysts covering the stock, including 9 Strong Buy ratings and 11 Buy ratings.
While analyst ratings can provide valuable insights, they are based on assumptions that may not always materialize as expected. Investors should consider a range of factors, including company fundamentals and market conditions, when making decisions.