Carvana Co. (CVNA), headquartered in Tempe, Arizona, operates auction sites and an e-commerce platform for buying and selling used cars. With a market cap of $81.2 billion,  the company offers test drives, vehicle financing, and car reviews. The online used car retailer is expected to announce its fiscal first-quarter earnings for 2026 after the market closes on Wednesday, Apr. 29.

Ahead of the event, analysts expect CVNA to report a profit of $1.39 per share on a diluted basis, down 8% from $1.51 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.

For the full year, analysts expect CVNA to report EPS of $6.81, down 19.4% from $8.45 in fiscal 2025. However, its EPS is expected to rise 33.3% year over year to $9.08 in fiscal 2027.

CVNA stock has outperformed the S&P 500 Index’s ($SPX) 33.5% gains over the past 52 weeks, with shares up 73.1% during this period. Similarly, it outperformed the State Street Consumer Discretionary Select Sector SPDR ETF’s (XLY) 27.7% gains over the same time frame.

CVNA's outperformance was driven by scaling its platform and improving customer experience, with inventory up by 20,000 cars, delivery time is a day faster, and same-day delivery is expanding to new metros. Its AI-driven digital platform now enables 30% of buyers and 60% of sellers to transact without a rep, while $12 billion in new loan commitments and lower shipping fees/interest rates boosted affordability and loyalty. 

Analysts’ consensus opinion on CVNA stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 23 analysts covering the stock, 14 advise a “Strong Buy” rating, three suggest a “Moderate Buy,” and six give a “Hold.” CVNA’s average analyst price target is $434.24, indicating a potential upside of 19.9% from the current levels.