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Carvana (CVNA) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw Carvana (CVNA - Free Report) ending at $173.85, denoting a +1.82% adjustment from its last day's close. This change outpaced the S&P 500's 0.19% loss on the day. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.36%.
The company's stock has climbed by 11.58% in the past month, exceeding the Retail-Wholesale sector's gain of 4.7% and the S&P 500's gain of 2.06%.
Market participants will be closely following the financial results of Carvana in its upcoming release. The company's earnings per share (EPS) are projected to be $0.21, reflecting an 8.7% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.38 billion, up 22.01% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.60 per share and revenue of $13.12 billion, indicating changes of -20% and +21.85%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Carvana. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 has moved 53.14% higher within the past month. Carvana is currently sporting a Zacks Rank of #2 (Buy).
From a valuation perspective, Carvana is currently exchanging hands at a Forward P/E ratio of 286.48. This denotes a premium relative to the industry's average Forward P/E of 22.72.
The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
To follow CVNA in the coming trading sessions, be sure to utilize Zacks.com.
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Carvana (CVNA) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw Carvana (CVNA - Free Report) ending at $173.85, denoting a +1.82% adjustment from its last day's close. This change outpaced the S&P 500's 0.19% loss on the day. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.36%.
The company's stock has climbed by 11.58% in the past month, exceeding the Retail-Wholesale sector's gain of 4.7% and the S&P 500's gain of 2.06%.
Market participants will be closely following the financial results of Carvana in its upcoming release. The company's earnings per share (EPS) are projected to be $0.21, reflecting an 8.7% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.38 billion, up 22.01% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.60 per share and revenue of $13.12 billion, indicating changes of -20% and +21.85%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Carvana. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 has moved 53.14% higher within the past month. Carvana is currently sporting a Zacks Rank of #2 (Buy).
From a valuation perspective, Carvana is currently exchanging hands at a Forward P/E ratio of 286.48. This denotes a premium relative to the industry's average Forward P/E of 22.72.
The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
To follow CVNA in the coming trading sessions, be sure to utilize Zacks.com.