Shares in Carvana (CVNA) stock rocketed higher on Monday after its reported inclusion in the S&P 500 index on December 22. At press time, shares are up over 13%, and are riding a further 127% surge in 2025. The reversal this year is notable, considering how heavily shorted the car-shopping company’s stock has been in recent years. The stock has skyrocketed over 10,000% since its lows in 2022.

Carvana has seen a solid streak of record-breaking quarters, with record revenue and units sold in the third quarter. The company also broke its record for profits per unit sold in Q2 2025. The company also reaffirmed its long-term goal of selling 3 million cars within the next five to 10 years. In FY 2025 Q3, its revenue growth accelerated to 45.55% and EPS growth skyrocketed to 1900.00%, amazing stats considering Carvana’s past.

In addition, several Wall Street firms are now bullish on Carvana (CVNA) stock to continue winning. BofA analysts have reiterated their Buy rating on the stock and raised their price target to $455 from $385. “We see consumer demand as stable/strong, leading to little deceleration, in part driven by share gains vs. CarMax,” BofA analyst Michael McGovern wrote in a note. Furthermore, analysts surveyed by CNN are also raising their forecasts, with 73% surveyed rating CVNA a buy and giving it a $500 forecast.

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Per Yahoo Finance, Carvana stock has 18 Buy ratings, six Holds, and two Sells. The company has become one of the best automotive sales platforms in the US, even outperforming CarMax. Furthermore, Carvana’s inclusion in the S&P 500 will surely attract substantial investments from index-tracking funds, sending its demand and value higher.