Carvana Price Target Adjusted to $93 by Barclays as Retail Volumes Stay Solid Post Split

"Barclays analyst John Babcock adjusted his price target on Carvana to $93 from $475 while maintaining an Overweight rating. The dramatic-looking cut is mechanical, reflecting the company's recently completed 5-for-1 forward stock split while the firm's fundamental view remains intact."

"Babcock cited continued solid retail volume growth, even as the pace moderates below the torrid run rate of recent quarters. For long-term investors, Barclays' enterprise value perspective on Carvana stock is essentially unchanged. The firm noted that growth is running below the 40% pace achieved in each of the last six quarters, yet it remains healthy by any normal industry standard."

"That deceleration reflects tougher year-over-year comparisons rather than weakening demand. Carvana posted record Q4 2025 retail units of 163,522, up 43% year over year (YoY), and Q1 2026 revenue of $6.4 billion versus $4.2 billion a year earlier. Carvana operates an e-commerce platform for buying and selling used vehicles, differentiated by integrated logistics, proprietary inspection workflows, and its ADESA reconditioning footprint."

"When a company splits its stock, share counts rise and per-share metrics, including analyst targets, adjust proportionally. The underlying enterprise value Barclays ascribes to Carvana stock is unchanged by the revision to $93. Context matters for the valuation: Carvana trades at a P/E ratio of 44x with a beta of 3.55, and the consensus analyst target sits at $93.01."

A price target adjustment for Carvana reflects a completed 5-for-1 forward stock split, which mechanically scales per-share figures without changing underlying enterprise value. The maintained Overweight stance is supported by continued solid retail unit volume growth, though growth is moderating versus prior quarters. The deceleration is attributed to tougher year-over-year comparisons rather than weakening demand. Carvana reported record Q4 2025 retail units of 163,522, up 43% year over year, and Q1 2026 revenue of $6.4 billion versus $4.2 billion a year earlier. Carvana operates an e-commerce used-vehicle platform with integrated logistics, proprietary inspection workflows, and ADESA reconditioning. The company reported $20.32 billion revenue in 2025, up 49%, with EPS of $8.45, and reiterated a long-term goal of 3 million annual retail units with a 14% Adjusted EBITDA margin by 2030 to 2035.

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