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Carvana (CVNA) Outpaces Stock Market Gains: What You Should Know
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Carvana (CVNA - Free Report) closed the most recent trading day at $26.78, moving +1.83% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.5%. Meanwhile, the Dow gained 1.12%, and the Nasdaq, a tech-heavy index, added 0.32%.
Heading into today, shares of the company had gained 4.37% over the past month, outpacing the Retail-Wholesale sector's loss of 3.84% and the S&P 500's loss of 6.54% in that time.
Wall Street will be looking for positivity from Carvana as it approaches its next earnings report date. On that day, Carvana is projected to report earnings of -$1.75 per share, which would represent a year-over-year decline of 773.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.01 billion, up 20.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.96 per share and revenue of $16.1 billion, which would represent changes of -326.99% and +25.62%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Carvana. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.16% lower. Carvana is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Carvana (CVNA) Outpaces Stock Market Gains: What You Should Know
Carvana (CVNA - Free Report) closed the most recent trading day at $26.78, moving +1.83% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.5%. Meanwhile, the Dow gained 1.12%, and the Nasdaq, a tech-heavy index, added 0.32%.
Heading into today, shares of the company had gained 4.37% over the past month, outpacing the Retail-Wholesale sector's loss of 3.84% and the S&P 500's loss of 6.54% in that time.
Wall Street will be looking for positivity from Carvana as it approaches its next earnings report date. On that day, Carvana is projected to report earnings of -$1.75 per share, which would represent a year-over-year decline of 773.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.01 billion, up 20.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.96 per share and revenue of $16.1 billion, which would represent changes of -326.99% and +25.62%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Carvana. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.16% lower. Carvana is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.