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Carvana (CVNA) Outpaces Stock Market Gains: What You Should Know

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Carvana (CVNA - Free Report) closed at $41.24 in the latest trading session, marking a +1% move from the prior day. This move outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.83%.

Heading into today, shares of the company had lost 17.86% over the past month, lagging the Retail-Wholesale sector's loss of 3.16% and the S&P 500's loss of 2.84% in that time.

Wall Street will be looking for positivity from Carvana as it approaches its next earnings report date. In that report, analysts expect Carvana to post earnings of -$0.85 per share. This would mark year-over-year growth of 68.16%. Our most recent consensus estimate is calling for quarterly revenue of $2.77 billion, down 18.3% from the year-ago period.

CVNA's full-year Zacks Consensus Estimates are calling for earnings of -$3.71 per share and revenue of $11.06 billion. These results would represent year-over-year changes of +57.16% and -18.74%, respectively.

It is also important to note the recent changes to analyst estimates for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Carvana is holding a Zacks Rank of #3 (Hold) right now.

The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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