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Carvana (CVNA) Surpasses Market Returns: Some Facts Worth Knowing

Carvana (CVNA) closed at $83.68 in the latest trading session, marking a +1.22% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.15%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.32%.

Prior to today's trading, shares of the company had gained 5.85% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.12% and the S&P 500's gain of 1.65% in that time.

Investors will be eagerly watching for the performance of Carvana in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 1, 2024. On that day, Carvana is projected to report earnings of -$0.80 per share, which would represent year-over-year growth of 47.02%. Our most recent consensus estimate is calling for quarterly revenue of $2.66 billion, up 2.01% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of -$3.40 per share and a revenue of $11.16 billion, demonstrating changes of -553.33% and +3.61%, respectively, from the preceding year.

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Investors should also pay attention to any latest changes in analyst estimates for Carvana. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.08% higher within the past month. Carvana presently features a Zacks Rank of #3 (Hold).

The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 47, finds itself in the top 19% echelons 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 Co. (CVNA) : Free Stock Analysis Report

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Zacks Investment Research