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Carvana (CVNA) Rises But Trails Market: What Investors Should Know
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Carvana (CVNA - Free Report) closed at $39.04 in the latest trading session, marking a +0.44% move from the prior day. This change lagged the S&P 500's 0.52% gain on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 0.58%.
The company's shares have seen a decrease of 23.5% over the last month, not keeping up with the Retail-Wholesale sector's loss of 5.98% and the S&P 500's loss of 2.61%.
The upcoming earnings release of Carvana will be of great interest to investors. The company's earnings report is expected on November 2, 2023. In that report, analysts expect Carvana to post earnings of -$0.85 per share. This would mark year-over-year growth of 68.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.77 billion, down 18.3% from the year-ago period.
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.
Any recent changes to analyst estimates for Carvana should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 remained stagnant within the past month. At present, Carvana boasts a Zacks Rank of #1 (Strong Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% 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 (CVNA) Rises But Trails Market: What Investors Should Know
Carvana (CVNA - Free Report) closed at $39.04 in the latest trading session, marking a +0.44% move from the prior day. This change lagged the S&P 500's 0.52% gain on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 0.58%.
The company's shares have seen a decrease of 23.5% over the last month, not keeping up with the Retail-Wholesale sector's loss of 5.98% and the S&P 500's loss of 2.61%.
The upcoming earnings release of Carvana will be of great interest to investors. The company's earnings report is expected on November 2, 2023. In that report, analysts expect Carvana to post earnings of -$0.85 per share. This would mark year-over-year growth of 68.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.77 billion, down 18.3% from the year-ago period.
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.
Any recent changes to analyst estimates for Carvana should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 remained stagnant within the past month. At present, Carvana boasts a Zacks Rank of #1 (Strong Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% 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.