JPMorgan Raises Carvana's Price Target to $415, Maintains Overweight Rating

JPMorgan raised Carvana's (CVNA) price target from $350 to $415, maintaining an Overweight rating after the company reported Q2 2025 results that exceeded expectations. Carvana sold 143,000 retail units, a 41% YoY increase, and JPMorgan increased its EBITDA estimates to $2,245 million for 2025 and $2,975 million for 2026.

Title: WELL Health Technologies Reports Record Q2-2025 Financials

WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) has reported record financial results for the second quarter of 2025, showcasing robust growth and improved profitability. The company achieved a quarterly revenue of $356.7 million, an increase of 57% compared to Q2-2024. This growth was driven by organic expansion and acquisitions, with a significant contribution of $40.5 million from the inclusion of HEALWELL AI [1].

Adjusted EBITDA for Q2-2025 stood at $49.7 million, representing a 231% increase year-over-year. Excluding the impact from Circle Medical’s deferred revenue adjustments, Adjusted EBITDA would have been $40.0 million, indicating a 166% year-over-year growth. This improvement led to a record Adjusted Net Income of $25.8 million or $0.10 per share, a 532% increase compared to Q2-2024 [1].

Canadian Patient Services revenue reached $114.5 million, a 49% increase from the previous year, driven by organic growth and acquisitions. Consolidated gross margins increased by 423 bps to 44.5%, excluding the impact from CM Deferrals, which would have increased by 270 bps to 43.0% [1].

The company reaffirmed its annual revenue guidance of $1.40 billion to $1.45 billion, with Adjusted EBITDA between $190 million to $210 million. Excluding CM Deferrals, the guidance was updated to $1.35 billion to $1.40 billion and Adjusted EBITDA between $140 million to $160 million, with an improvement to the upper half of the guidance ranges [1].

Hamed Shahbazi, Chairman and CEO of WELL, commented on the strong performance, highlighting the company's commitment to making investments designed to improve healthcare outcomes and provider productivity. The average provider at WELL grew their patient visits by 22%, with improved tooling and technology contributing to this growth [1].

Eva Fong, WELL’s Chief Financial Officer, noted the strength of the operating model and disciplined capital allocation strategy. The company completed fourteen transactions and has fifteen signed LOIs representing approximately $134 million in revenues. WELLSTAR, the company's SaaS technology subsidiary, achieved revenue of $15.2 million, a 49% increase from the previous year [1].

The company also reported a total of 1.7 million patient visits in Q2-2025, an increase of 21% compared to the previous year, with over 1 million visits across Canadian operations, a new quarterly milestone. WELL achieved over 2.7 million Care Interactions, representing approximately 10.8 million patient interactions on an annualized run-rate basis [1].

References:
[1] https://finance.yahoo.com/news/well-health-reports-record-revenue-110100432.html