Benzinga | Sep 22, 2020 10:44AM EDT

Why Carvana's Stock Is Trading Higher Today

Carvana Co. (NYSE:CVNA) shares are trading higher after Goldman Sachs upgraded the stock from Neutral to Buy and raised its price target from $178 to $205.

Carvana said it expects a record performance in the third quarter.

Carvana is an e-commerce platform for buying and selling used cars.

Carvana shares were trading higher by 20.83% at $210 on Tuesday at the time of publication. The stock has a 52-week high of $235 and a 52-week low of $22.16.