Shares of Carvana Co ( CVNA ) continued to slide after the company on Wednesday reported its third-quarter results.

Here are some key analyst takeaways:

Needham analyst Chris Pierce maintained a Buy rating and price target of $500.

BTIG analyst Marvin Fong reiterated a Buy rating and price target of $450.

Check out other analyst stock ratings.

 Needham: Carvana ( CVNA ) reported unit growth of around 9%, beating expectations by a wide margin, Pierce said in a note. He added, however, that the company's adjusted EBITDA per retail unit decline sequentially in the quarter.

The guidance for the fourth quarter implies a slowdown from the current growth rates, the analyst stated. This builds in conservatism "that may not even be needed despite the incredibly difficult y/y comp," he further wrote.

BTIG: Carvana's ( CVNA ) retail units sold came in at 155,941, while retail GPU (gross profit per unit) of $3,540 fell short of consensus of $3,660, Fong said. The average GPU of all traditional dealers that have reported results showed around the same decline as Carvana ( CVNA ), he added.

Guidance calls for retail units of more than 150,000, which suggests a modest sequential decline, "but that tracks given the fourth quarter is a seasonally small quarter and CVNA will see a bit more headwind than most given it overindexes in EVs," the analyst wrote.

He raised his fourth-quarter revenue estimate from $4.9 billion to $5.2 billion, while lowering the adjusted EBITDA estimate from $526 million to $519 million.

CVNA Price Action: Carvana shares were down 10.07% at $318.29 at the time of publication on Thursday, according to Benzinga Pro data.

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