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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.

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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.

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Carvana Co. (CVNA) : Free Stock Analysis Report

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Zacks Investment Research