The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Carvana is currently sporting a Zacks Rank of #2 (Buy). The Zacks Consensus Estimate for CVNA's full-year earnings has moved 72% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger. For th ...

Investors have become incredibly enthusiastic toward this enterprise. When its market cap was at just $400 million in December 2022, shares of this online used car retailer were down 99% from their peak price. It looked like the pessimism and doubt couldn't get any higher. But things have turned around in a major way. The business in question, Carvana (CVNA -0.36%), now sports a market cap of $14 billion. And the growth stock has surged a whopping 945% just in the past 12 months. Even though shares are stil ...

Over the past 18 months, shares of online used car dealer Carvana (NASDAQ:CVNA) staged a miraculous turnaround. Many expected to hear about a bankruptcy filing, not a rally. But beginning in January 2023, Carvana stock did just that and rocketed over 2,400% higher. The stock has already more than doubled so far this year. Furthermore, there are more beaten-down stocks you should consider. This was a company that consistently lost money (it had never been profitable) and suffered from a lack of inventory due ...

Carvana reportedly expects that as more new vehicles are built, the company's used car business will benefit. "There will likely be much more car production, and that will probably bode well," Carvana CEO Ernest Garcia III told reporters Tuesday (May 14) at an Automotive Press Association event near Detroit, Bloomberg reported Tuesday. Online car shopping guide Edmunds said in April that new vehicle inventory was "rebounding." "Compelling new product launches combined with the reintroduction of incentives a ...

Shares of Carvana are soaring after the company posted a surprise profit in first quarter earnings. While this may all sound unconventional, the business model resonates with consumers. In today's world, shoppers do not want to be inundated with aggressive sales tactics or marketing campaigns. Carvana's approach to buying cars is highly efficient, as it removes a lot of the friction from going to a dealership. But though tech-enabled services for buying cars might sound appealing, Carvana's business isn't a ...

Carvana has distanced itself from its bankruptcy scare, but is it finally time to buy the used car retailer?It's almost difficult to believe the roller coaster story that is Carvana (CVNA -2.83%). It went on the wildest of rides during the COVID-19 pandemic and soared beyond any measure investors would have thought possible, only to crash to near bankruptcy. But the company survived, and began working to tighten up its operations and focus on profitability.So is it finally a stable enough stock to buy now?S ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

The used car specialist has further avenues for growth.Carvana's (CVNA -4.13%) shares soared 34% in the wake of its first-quarter earnings report on May 1, resulting in a year-to-date gain of 130% as of market close May 6. The stock has been an absolute rocket ship this past year and is up 3,100% from its early December 2022 low.Investors who were down on the stock likely believed the company was just another tech meme boosted by the pandemic and expected it to fail along with the collapse of the used car m ...

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Impressively, Carvana turned a profit in 2023 and in 1Q 2024. But there's more to the story here.On the surface, Carvana (CVNA 4.44%) looks like it had a spectacular turnaround year in 2023. Earnings rocketed from a $15.74 per share loss in 2022 to a profit of $4.12 per share. And it also seems like it got off to a big start in 2024, with a first-quarter profit of $0.24 per share. These are impressive results, but there's more to the story here than there appears to be.Here are three things you need to keep ...