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Carvana (CVNA) Stock Moves -0.79%: What You Should Know
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Carvana (CVNA - Free Report) ended the recent trading session at $129.93, demonstrating a -0.79% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.
Shares of the company have appreciated by 17.92% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 1.55% and the S&P 500's gain of 5.11%.
Analysts and investors alike will be keeping a close eye on the performance of Carvana in its upcoming earnings disclosure. The company's earnings report is set to go public on July 31, 2024. The company is expected to report EPS of -$0.02, up 96.36% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.19 billion, reflecting a 7.58% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.34 per share and a revenue of $12.41 billion, demonstrating changes of -145.33% and +15.18%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Carvana. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.22% increase. Right now, Carvana possesses a Zacks Rank of #2 (Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Carvana (CVNA) Stock Moves -0.79%: What You Should Know
Carvana (CVNA - Free Report) ended the recent trading session at $129.93, demonstrating a -0.79% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.
Shares of the company have appreciated by 17.92% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 1.55% and the S&P 500's gain of 5.11%.
Analysts and investors alike will be keeping a close eye on the performance of Carvana in its upcoming earnings disclosure. The company's earnings report is set to go public on July 31, 2024. The company is expected to report EPS of -$0.02, up 96.36% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.19 billion, reflecting a 7.58% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.34 per share and a revenue of $12.41 billion, demonstrating changes of -145.33% and +15.18%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Carvana. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.22% increase. Right now, Carvana possesses a Zacks Rank of #2 (Buy).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.