Carvana (CVNA) Rises Higher Than Market: Key Facts
Carvana (CVNA) ended the recent trading session at $80.79, demonstrating a +1.52% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.82%.
Heading into today, shares of the company had gained 51.64% over the past month, outpacing the Retail-Wholesale sector's gain of 2.64% and the S&P 500's gain of 1.76% in that time.
The investment community will be closely monitoring the performance of Carvana in its forthcoming earnings report. On that day, Carvana is projected to report earnings of -$0.80 per share, which would represent year-over-year growth of 47.02%. Alongside, our most recent consensus estimate is anticipating revenue of $2.66 billion, indicating a 2.01% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.40 per share and revenue of $11.16 billion, indicating changes of -553.33% and +3.61%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.99% higher within the past month. Currently, Carvana is carrying a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Carvana Co. (CVNA) : Free Stock Analysis Report
