Carvana's 70% YTD Surge Amid 89th Trading Volume Rank and Analyst Price Target Hikes

On August 8, 2025, Carvana (CVNA) declined 2.85% with a trading volume of $980 million, ranking 89th in market activity. The used-car e-commerce platform has seen a resurgence in investor interest following its Q2 2025 earnings report, which highlighted record revenue growth and improved profitability. The company’s operating margin reached 10.6%, and adjusted EBITDA hit $601 million, reflecting streamlined operations and cost efficiencies.

Analysts have raised price targets amid Carvana’s strong performance. JPMorgan increased its target to $415 from $350, while Needham set a $500 target, calling it a “best large-cap, profitable growth story.” Despite a recent pullback from its intraday high of $413.34, the stock remains up 70% year-to-date, outperforming the S&P 500. However, its forward P/E ratio of 70x remains elevated, prompting some to question sustainability.

The strategy of purchasing the top 500 stocks by daily trading volume and holding them for one day delivered a 166.71% return from 2022 to the present, outperforming the benchmark return of 29.18% by 137.53%. This underscores the role of liquidity concentration in short-term stock performance, particularly in volatile markets.