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Carvana (CVNA) Stock Slides as Market Rises: Facts to Know Before You Trade
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Carvana (CVNA - Free Report) closed the most recent trading day at $37.63, moving -1.52% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.81%. Elsewhere, the Dow gained 0.39%, while the tech-heavy Nasdaq added 1.35%.
Shares of the company witnessed a loss of 23.34% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 7.92% and the S&P 500's loss of 6.19%.
Market participants will be closely following the financial results of Carvana in its upcoming release. The company is predicted to post an EPS of -$0.85, indicating a 68.16% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.77 billion, indicating a 18.3% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$3.71 per share and a revenue of $11.06 billion, representing changes of +57.16% and -18.74%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Carvana. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Carvana (CVNA) Stock Slides as Market Rises: Facts to Know Before You Trade
Carvana (CVNA - Free Report) closed the most recent trading day at $37.63, moving -1.52% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.81%. Elsewhere, the Dow gained 0.39%, while the tech-heavy Nasdaq added 1.35%.
Shares of the company witnessed a loss of 23.34% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 7.92% and the S&P 500's loss of 6.19%.
Market participants will be closely following the financial results of Carvana in its upcoming release. The company is predicted to post an EPS of -$0.85, indicating a 68.16% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.77 billion, indicating a 18.3% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$3.71 per share and a revenue of $11.06 billion, representing changes of +57.16% and -18.74%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Carvana. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.