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Carvana (CVNA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Carvana (CVNA - Free Report) closed at $15.10, marking a -1.18% move from the previous day. This change lagged the S&P 500's 0.74% loss on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the company had lost 38.46% over the past month, lagging the Retail-Wholesale sector's gain of 3.09% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Carvana as it approaches its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of -$2, down 426.32% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.74 billion, up 7.37% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$8.97 per share and revenue of $15.08 billion. These totals would mark changes of -450.31% and +17.66%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 8.22% lower. Carvana is currently a Zacks Rank #4 (Sell).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CVNA in the coming trading sessions, be sure to utilize Zacks.com.
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Carvana (CVNA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Carvana (CVNA - Free Report) closed at $15.10, marking a -1.18% move from the previous day. This change lagged the S&P 500's 0.74% loss on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the company had lost 38.46% over the past month, lagging the Retail-Wholesale sector's gain of 3.09% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Carvana as it approaches its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of -$2, down 426.32% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.74 billion, up 7.37% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$8.97 per share and revenue of $15.08 billion. These totals would mark changes of -450.31% and +17.66%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 8.22% lower. Carvana is currently a Zacks Rank #4 (Sell).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CVNA in the coming trading sessions, be sure to utilize Zacks.com.