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Carvana (CVNA) Beats Stock Market Upswing: What Investors Need to Know
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Carvana (CVNA - Free Report) ended the recent trading session at $176.95, demonstrating a +0.65% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.01% for the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.08%.
Coming into today, shares of the company had gained 21.64% in the past month. In that same time, the Retail-Wholesale sector gained 5.59%, while the S&P 500 gained 1.21%.
The investment community will be paying close attention to the earnings performance of Carvana in its upcoming release. The company is forecasted to report an EPS of $0.22, showcasing a 4.35% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $3.39 billion, indicating a 22.29% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and revenue of $13.14 billion, which would represent changes of -17.33% and +22%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Carvana. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 64.57% increase. As of now, Carvana holds a Zacks Rank of #2 (Buy).
Digging into valuation, Carvana currently has a Forward P/E ratio of 285.39. For comparison, its industry has an average Forward P/E of 22.58, which means Carvana is trading at a premium to the group.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Carvana (CVNA) Beats Stock Market Upswing: What Investors Need to Know
Carvana (CVNA - Free Report) ended the recent trading session at $176.95, demonstrating a +0.65% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.01% for the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.08%.
Coming into today, shares of the company had gained 21.64% in the past month. In that same time, the Retail-Wholesale sector gained 5.59%, while the S&P 500 gained 1.21%.
The investment community will be paying close attention to the earnings performance of Carvana in its upcoming release. The company is forecasted to report an EPS of $0.22, showcasing a 4.35% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $3.39 billion, indicating a 22.29% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and revenue of $13.14 billion, which would represent changes of -17.33% and +22%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Carvana. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 64.57% increase. As of now, Carvana holds a Zacks Rank of #2 (Buy).
Digging into valuation, Carvana currently has a Forward P/E ratio of 285.39. For comparison, its industry has an average Forward P/E of 22.58, which means Carvana is trading at a premium to the group.
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.