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Carvana (CVNA) Advances While Market Declines: Some Information for Investors
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Carvana (CVNA - Free Report) closed the latest trading day at $41.80, indicating a +1.95% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.07%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.36%.
Shares of the company have depreciated by 25.33% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 1.02% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of Carvana in its upcoming release. The company plans to announce its earnings on February 22, 2024. The company's upcoming EPS is projected at -$0.93, signifying a 4.12% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.57 billion, indicating a 9.31% decline compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 1.07% higher. Carvana currently has a Zacks Rank of #1 (Strong Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 106, finds itself in the top 43% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Advances While Market Declines: Some Information for Investors
Carvana (CVNA - Free Report) closed the latest trading day at $41.80, indicating a +1.95% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.07%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.36%.
Shares of the company have depreciated by 25.33% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 1.02% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of Carvana in its upcoming release. The company plans to announce its earnings on February 22, 2024. The company's upcoming EPS is projected at -$0.93, signifying a 4.12% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.57 billion, indicating a 9.31% decline compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 1.07% higher. Carvana currently has a Zacks Rank of #1 (Strong Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 106, finds itself in the top 43% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.