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Carvana (CVNA) Stock Slides as Market Rises: Facts to Know Before You Trade
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Carvana (CVNA - Free Report) ended the recent trading session at $46.74, demonstrating a -0.89% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.57%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq appreciated by 0.75%.
Shares of the company have appreciated by 19.39% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 3.95% and the S&P 500's gain of 3.4%.
Investors will be eagerly watching for the performance of Carvana in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.93, showcasing a 4.12% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.57 billion, down 9.31% from the prior-year quarter.
Any recent changes to analyst estimates for Carvana should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Carvana currently has 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 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Carvana (CVNA) Stock Slides as Market Rises: Facts to Know Before You Trade
Carvana (CVNA - Free Report) ended the recent trading session at $46.74, demonstrating a -0.89% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.57%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq appreciated by 0.75%.
Shares of the company have appreciated by 19.39% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 3.95% and the S&P 500's gain of 3.4%.
Investors will be eagerly watching for the performance of Carvana in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.93, showcasing a 4.12% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.57 billion, down 9.31% from the prior-year quarter.
Any recent changes to analyst estimates for Carvana should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Carvana currently has 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 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.