Carvana Co. (CVNA) shares pushed higher Monday, continuing a momentum streak that has delivered more than 60% gains so far this year. The online used car retailer is scheduled to present at the Wells Fargo 9th Annual TMT Summit on Tuesday at 3 p.m. EST, which may be adding some fuel to the move.

Recent Earnings Performance

Back in late October, Carvana reported its third-quarter results with somewhat mixed outcomes. The company posted earnings per share of $1.03, which came in below the consensus estimate of $1.24. On the revenue side, things looked better—sales hit $5.64 billion, comfortably beating the $5.06 billion that analysts had penciled in.

What Analysts Are Saying

Wall Street has been busy updating their views on Carvana recently, and the range of opinions is pretty wide. Here's what several analysts have been telling clients:

• Needham analyst Chris Pierce maintained a Buy rating with a $500 price target.
• Barclays analyst John Babcock initiated coverage with an Overweight rating and a $390 price target.
• Citigroup analyst Ronald Josey kept his Buy rating but trimmed his target from $490 down to $445.
• Evercore ISI Group analyst Michael Montani held an In-Line rating while lowering his target from $425 to $395.
• B of A Securities analyst Michael McGovern maintained a Buy rating but reduced his target from $405 to $385.
• BTIG analyst Marvin Fong stuck with a Buy rating and kept his $450 price target unchanged.

The consensus price target across analysts sits at $391.23, though individual targets span quite a range—from a low of $148 all the way up to $500.

Technical Picture and Market Position

Carvana stock is currently trading within its 52-week range of $148.25 to $413.33, with year-to-date performance clocking in at an impressive 62.5%. That's the kind of run that gets investors' attention.

From a technical standpoint, the stock is trading about 7.8% below its 50-day moving average of $351.82, suggesting some near-term resistance overhead. However, it's sitting roughly 7.7% above its 200-day moving average of $301.22, which points to a stronger long-term trend.

Traders are watching two key levels: support at $298.08 and resistance at $334.75. A break above that resistance could signal renewed bullish momentum, while a drop below support might give investors pause. The relative strength index (RSI) currently sits at 45.26, indicating neutral territory—the stock isn't showing signs of being overbought or oversold right now.

With a market capitalization of $45.02 billion, Carvana remains one of the dominant players in the online vehicle sales space, significantly larger than competitors like CarMax and Vroom. How the stock navigates these technical levels in the coming sessions could set the tone for its near-term trajectory.

Price Action: At the time of writing, Carvana stock was trading 1.13% higher at $321.92.