Carvana (CVNA) Stock Sinks As Market Gains: What You Should Know

Carvana (CVNA) closed the most recent trading day at $109.15, moving -0.69% from the previous trading session. This move lagged the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.1%.

Shares of the company witnessed a gain of 41.82% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 1.98% and the S&P 500's gain of 4.03%.

Analysts and investors alike will be keeping a close eye on the performance of Carvana in its upcoming earnings disclosure. The company is expected to report EPS of -$0.05, up 90.91% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $3.2 billion, indicating a 7.83% upward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.55 per share and a revenue of $12.36 billion, signifying shifts of -173.33% and +14.71%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Carvana. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 71.31% increase. Currently, Carvana is carrying 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 88, which puts it in the top 35% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Carvana Co. (CVNA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.