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Carvana (CVNA) Gains As Market Dips: What You Should Know
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In the latest trading session, Carvana (CVNA - Free Report) closed at $294.18, marking a +1.03% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.28%.
Heading into today, shares of the company had lost 19.46% over the past month, lagging the Retail-Wholesale sector's loss of 3.76% and the S&P 500's loss of 3.59%.
The upcoming earnings release of Carvana will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.42, reflecting a 5.96% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.12 billion, up 44.62% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.98 per share and a revenue of $26.97 billion, demonstrating changes of -17.4% and +32.7%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.06% lower. Carvana presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Carvana has a Forward P/E ratio of 41.71 right now. Its industry sports an average Forward P/E of 15.6, so one might conclude that Carvana is trading at a premium comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 158, finds itself in the bottom 36% echelons of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Carvana (CVNA) Gains As Market Dips: What You Should Know
In the latest trading session, Carvana (CVNA - Free Report) closed at $294.18, marking a +1.03% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.28%.
Heading into today, shares of the company had lost 19.46% over the past month, lagging the Retail-Wholesale sector's loss of 3.76% and the S&P 500's loss of 3.59%.
The upcoming earnings release of Carvana will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.42, reflecting a 5.96% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.12 billion, up 44.62% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.98 per share and a revenue of $26.97 billion, demonstrating changes of -17.4% and +32.7%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.06% lower. Carvana presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Carvana has a Forward P/E ratio of 41.71 right now. Its industry sports an average Forward P/E of 15.6, so one might conclude that Carvana is trading at a premium comparatively.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 158, finds itself in the bottom 36% echelons of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.