Carvana jumps 5% as Jefferies cites strong sales

Shares of online used-car retailer Carvana rose 5% in the afternoon session on September 29, 2026. The move came after investment firm Jefferies reiterated a Buy rating on the stock and cited proprietary data showing September unit sales running roughly 40% above Wall Street expectations.

According to StreetInsider, Jefferies analyst John Colantuoni maintained an $88 price target alongside the Buy rating. The firm noted that Carvana's sales volume held up well against broader industry estimates through September. Sentiment across used-vehicle retail was also lifted after competitor CarMax reported quarterly earnings and announced plans to resume its share buyback program.

The stock has shown significant volatility, recording 47 moves greater than 5% over the past year. Just a day earlier, the shares dropped 6.7% as the 10-year US Treasury yield traded above 5.23%, pressuring growth-oriented consumer internet companies.

At $63.85 per share, Carvana is down 20.2% since the start of the year and trades 33.3% below its 52-week high of $95.69 reached in January 2026. Over a five-year period, an initial $1,000 investment in the company is worth $1,044.