Carvana Stock Rises as Piper Sandler Advises Buying the Dip After Recent Selloff | Global News Avenue

Cavana (CV) The stocks acquired Thursday followed Piper Sandler’s advice Buy dipping sauce After the recent sell-off, among stocks of online used car retailers.

Reports from the company Quarterly results In February. Piper Sandler analysts told clients they will “accumulate” stocks and reiterated their target of $225, which means more than 20% from Thursday’s closing price. It can be seen that the consensus among analysts tracked by α is even higher, at about $287.

The company currently has about 1% share Used car marketPiper Sander said, but analysts expect that this could eventually grow to more than 10%. They say that over the long term, Cavana’s vehicles could increase from 416,000 cars sold last year to more than three million.

Piper Sander also believes Cavana may be particularly thermally insulated from new impacts tariff. Analysts say this is partly because used cars are mainly sold in China, but also because Cavana may have room to increase its sales, even if the wider used car market struggles.

Carvana’s shares rose more than 5% on Thursday to close at $185.42. Even with the recent sell-off, its stock has more than doubled its value in the past 12 months.