Traders should pick up Carvana shares after a recent slide, according to Piper Sandler. Analyst Alexander Potter upgraded the used car sales platform to overweight from neutral. Potter’s $225 price target suggests shares can jump 27.8% from Wednesday’s close. “We would use the recent sell-off to accumulate CVNA shares,” Potter told clients in a Thursday note. With Potter’s call, the analyst left the majority on Wall Street. The most common rating on Wall Street for Carvana has been a hold, according to LSEG. Potter said that no stock in his coverage universe is as “insulated” to the threat of tariffs as Carvana. While he acknowledged that macro uncertainty could cause a decline in used car sales, the analyst said Caravana should be able to idiosyncratically grow. That’s because the company — after, in Potter’s words, being on the “brink” of bankruptcy — is now in a position to grow. Specifically, he said annual units sold should one day exceed 3 million, up from 416,000 seen in 2024. Currently, Carvana accounts for just around 1% of the market. With an EBITDA margin in the low teens, Potter said Carvana could go on to sell 10% or more of used cars in the U.S. Shares advanced 2.7% before the bell on Thursday. However, the stock has dropped more than 13% in 2025, meaning it has recorded steeper losses than the broader marker has. In March alone, shares have plunged more than 24%. CVNA YTD mountain Carvana, year to date
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