Carvana Co. CVNA shares are trading higher on Wednesday after JMP Securities maintained an Outperform rating on CVNA and raised its price target from $25 to $50.
The Details:
JMP Securities analyst Nicholas Jones maintained coverage on Carvana with a rating of Outperform and raised the price target from $25 to $50.
CVNA shares are trading nearly 10% higher on Wednesday and have gained more than 50% in the last five days. Shares of Carvana are up more than 100% in the last month and have climbed by more than 315% over the last three months.
The stock has received attention from retail investors on social media with CVNA currently listed as a top trending ticker on StockTwits. Short sellers have also shown remarkable interest in CVNA with 68.52% of available shares being sold short, according to data from Benzinga Pro.
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CVNA Price Action: According to data from Benzinga Pro, Carvana shares are trading more than 9% higher at $38.83 at the time of publication.
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