Why These 15 Automotive Stocks Are Skyrocketing So Far In 2025

Page 13 of 14

2. Carvana Co (NYSE:CVNA)

Number of Hedge Fund Holders In Q3 2024: 66

Carvana Co (NYSE:CVNA) is an e-commerce platform for buying and selling used cars.

The stock has been surging year-to-date, especially after JPMorgan’s bullish $350 price target. It cited a $4 billion deal with Ally Financial to sell auto loans.

Moreover, the company has solid EBITDA momentum. Its Q3 2024 results beat expectations by solid margins. It reported $0.64 against a $0.25 estimate. Revenue also trounced expectations and came in at $3.65 billion vs. a $3.45 billion forecast.

Analysts are very optimistic about the upcoming Q4 reports. Analysts expect $0.32 in EPS and $3.35 billion in revenue, which implies 38% growth year-over-year.

Hindenburg had a short seller report in January and CVNA fell 13% over two days but rebounded as analysts dismissed concerns.

The consensus price target of $249.29 implies 7.82% downside.

CVNA stock is up 33.33% year-to-date.

Page 13 of 14