NEW YORK, Jan 14, 2026, 19:37 EST — After-hours
Carvana Co. shares dipped 2.1% on Wednesday, holding mostly steady in after-hours action as some investors trimmed positions in the fast-rising used-car seller despite new bullish ratings from Wall Street. The stock closed at $458.61, after moving between $450.92 and $473.71 during the day.
The pullback is significant since Carvana has become a crowded trade. Big target upgrades attract momentum investors, yet they also set a higher benchmark for the upcoming earnings report. For traders, the focus shifts from whether the story is getting better to whether the numbers can match the valuation.
The broader market dragged down stocks on Wednesday, with tech shares taking the biggest hit. This kind of selloff often weighs on pricey growth stocks, even when the individual company updates are solid.
Deutsche Bank boosted its price target for Carvana on Tuesday, lifting it to a Street-high $600 from $395 while maintaining a “Buy” rating. Analyst Lee Horowitz pointed to Carvana’s “physical moats” as a key factor that could help the company “double down on its market leadership” amid what he sees as an early-stage shift to online sales in the used-vehicle market. Investing.com
BofA Securities raised its price target to $515 from $455 and kept a “Buy” rating. The firm highlighted Carvana’s expansion into franchised new-car sales, noting that customers in the Bay Area and Sacramento now see signs advertising “New cars now sold in your area,” with over 1,000 new Chrysler-Dodge-Jeep-Ram vehicles available. Investing.com
UBS bumped its price target to $545 from $450 on Wednesday, maintaining its “Buy” rating, according to a report summarizing the note. GuruFocus
Separately, Investor’s Business Daily raised Carvana’s proprietary Composite Rating to 96 from 94 on Jan. 13. This technical scorecard is favored by some growth investors.
Carvana has shifted its story since a 2022 squeeze on debt and demand cast doubts over the business. The stock almost doubled in 2025 and surged again last month after S&P Dow Jones Indices announced Carvana would be added to the S&P 500.
That risk hasn’t disappeared. Used-car demand can drop fast once financing gets pricier, and any slip in credit quality or sales growth usually hits Carvana harder than more established rivals. Their push into new-car sales also brings execution risks, especially with expectations already running high.
Next on the agenda: earnings. The company hasn’t set a date yet, but market calendars suggest the report will arrive between Feb. 18 and 23. That leaves a tight window for bulls and bears to adjust before the numbers drop.
