Carvana (CVNA) closed the latest trading session at $110.78, up +1.69% from the previous trading day’s closing price. The stock outperformed the S&P 500’s one-day gain of 0.25%. Elsewhere in the market, the Dow rose 0.15%, while the tech-heavy Nasdaq gained 0.03%.
Shares of the company have lost 7.29% over the past month, lagging the Retail-Wholesale sector’s gain of 0% and the S&P 500’s gain of 3.34%.
Analysts and investors will be closely watching Carvana’s performance in its upcoming earnings disclosure. The company is expected to report EPS of -$0.02, up 96.36% from the same period last year. At the same time, our latest consensus estimate is calling for revenue of $3.18 billion, up 7.16% from the same period last year.
CVNA’s full-year Zacks Consensus Estimates are calling for earnings of -$0.34 per share and revenue of $12.39 billion. These results would represent changes of -145.33% and +15.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Carvana. Recent revisions tend to reflect recent short-term business trends, therefore, positive estimate revisions represent analyst confidence in the company’s operating performance and earnings potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this phenomenon, we developed the Zacks Rank. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive, independently-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past 30 days, the Zacks Consensus EPS estimate has moved 21.88% higher. Carvana currently carries a Zacks Rank #2 (Buy).
The Internet – Commerce industry is part of the Retail – Wholesale sector. This industry is currently ranked #73 in the Zacks Industry Rank, putting it in the top 29% of all 250+ industries.
The strength of each industry group is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups, and our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to stay up to date on all the indicators moving the stock during the next trading session by utilizing Zacks.com.
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Carvana Co. (CVNA) : Free Stock Analysis Report
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