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Carvana (CVNA) Increases Yet Falls Behind Market: What Investors Need to Know
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Carvana (CVNA - Free Report) closed the most recent trading day at $192.25, moving +0.35% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.
The company's shares have seen an increase of 36.33% over the last month, surpassing the Retail-Wholesale sector's gain of 5.88% and the S&P 500's gain of 5.36%.
The investment community will be paying close attention to the earnings performance of Carvana in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. In that report, analysts expect Carvana to post earnings of $0.24 per share. This would mark year-over-year growth of 4.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.4 billion, up 22.54% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.62 per share and revenue of $13.15 billion. These totals would mark changes of -17.33% and +22.13%, respectively, from last year.
Any recent changes to analyst estimates for Carvana should also be noted by investors. 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. 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, 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 moved 64.57% higher. Carvana is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Carvana is presently being traded at a Forward P/E ratio of 310.99. This indicates a premium in contrast to its industry's Forward P/E of 22.47.
The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Increases Yet Falls Behind Market: What Investors Need to Know
Carvana (CVNA - Free Report) closed the most recent trading day at $192.25, moving +0.35% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.
The company's shares have seen an increase of 36.33% over the last month, surpassing the Retail-Wholesale sector's gain of 5.88% and the S&P 500's gain of 5.36%.
The investment community will be paying close attention to the earnings performance of Carvana in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. In that report, analysts expect Carvana to post earnings of $0.24 per share. This would mark year-over-year growth of 4.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.4 billion, up 22.54% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.62 per share and revenue of $13.15 billion. These totals would mark changes of -17.33% and +22.13%, respectively, from last year.
Any recent changes to analyst estimates for Carvana should also be noted by investors. 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. 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, 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 moved 64.57% higher. Carvana is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Carvana is presently being traded at a Forward P/E ratio of 310.99. This indicates a premium in contrast to its industry's Forward P/E of 22.47.
The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.