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Carvana (CVNA) Dips More Than Broader Market: What You Should Know
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Carvana (CVNA - Free Report) closed the most recent trading day at $42.29, moving -1.15% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.37%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq lost 0.19%.
Prior to today's trading, shares of the company had lost 23.17% over the past month. This has lagged the Retail-Wholesale sector's gain of 1.56% and the S&P 500's gain of 1.56% in that time.
The investment community will be paying close attention to the earnings performance of Carvana in its upcoming release. The company's upcoming EPS is projected at -$0.93, signifying a 4.12% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.57 billion, down 9.31% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carvana. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Carvana currently has a Zacks Rank of #1 (Strong Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Carvana (CVNA) Dips More Than Broader Market: What You Should Know
Carvana (CVNA - Free Report) closed the most recent trading day at $42.29, moving -1.15% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.37%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq lost 0.19%.
Prior to today's trading, shares of the company had lost 23.17% over the past month. This has lagged the Retail-Wholesale sector's gain of 1.56% and the S&P 500's gain of 1.56% in that time.
The investment community will be paying close attention to the earnings performance of Carvana in its upcoming release. The company's upcoming EPS is projected at -$0.93, signifying a 4.12% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.57 billion, down 9.31% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carvana. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Carvana currently has a Zacks Rank of #1 (Strong Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.