Carvana (CVNA) Stock Continues to Slide As Analysts Lower Price Targets

Core Viewpoint - Carvana Co. (NYSE:CVNA) is considered a strong buy by analysts despite recent price target reductions due to market volatility and cautious outlooks for upcoming quarters [1][2]. Group 1: Analyst Ratings and Price Targets - Citi analyst Ronald Josey maintained a Buy rating on Carvana while lowering the price target from $550 to $465, citing increased market volatility following the earnings report [1]. - UBS also reduced its price target on Carvana from $545 to $485 while keeping a Buy rating, noting that the company missed Q4 EBITDA expectations due to higher reconditioning costs, which are viewed as temporary [2]. Group 2: Company Overview - Carvana operates an e-commerce platform for buying and selling used cars and is based in Tempe, Arizona, founded in 2012 by Ernest Garcia III, Benjamin Huston, and Ryan Keeton [2]. Group 3: Market Conditions and Projections - Analysts project that retail GPU and EBITDA per unit for Carvana are expected to remain flat or slightly decline compared to the previous year in the short term [2].