In the latest market close, Carvana (CVNA) reached $202.53, with a +1.15% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.03% for the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq gained 0.56%.

The company's stock has climbed by 16.94% in the past month, exceeding the Retail-Wholesale sector's loss of 0.9% and the S&P 500's gain of 1.39%.

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 October 30, 2024. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 4.35% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.43 billion, up 23.86% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and a revenue of $13.17 billion, representing changes of -17.33% and +22.29%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Carvana. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Carvana presently features a Zacks Rank of #1 (Strong Buy).

From a valuation perspective, Carvana is currently exchanging hands at a Forward P/E ratio of 325.03. This represents a premium compared to its industry's average Forward P/E of 23.76.

The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.