Carvana Co. (CVNA) Identified as a Top Stock by a Well-Known Investor

Well-known investor Josh Brown, who frequently appears on CNBC, yesterday during an appearance on the network identified online auto retailer Carvana Co. (CVNA) as one of the best stocks in the market.

Brown is the CEO of Ritholtz Wealth Management.

Why Brown Is Very Bullish on Carvana Co. (CVNA)

The Manheim Index, which tracks used vehicle prices, unexpectedly increased in April, Brown reported. According to the well-known investor, "Carvana is probably the most obvious beneficiary of" the increase in used-vehicle prices.

Additionally, Carvana Co. (CVNA) reported excellent first-quarter financial results on May 7 as its revenue surged 38% versus the same period a year earlier and its bottom line soared 6 times year-over-year to $373 million, according to Brown.

Moreover, the company's shares have been performing very well recently, added Brown.

More About Carvana Co. (CVNA)

Analysts on average expect CVNA's earnings per share to jump to $4.80 this year from $3.15 in 2024. Their mean EPS estimate for 2026 is $5.84.

In the last month, the stock has jumped 40%, while it has added 9.5% in the last three months.

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