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If you're interested in broad exposure to the Mid Cap Value segment of the US equity market, look no further than the Invesco S&P MidCap 400 Revenue ETF (RWK), a passively managed exchange traded fund launched on 02/22/2008.
The fund is sponsored by Invesco. It has amassed assets over $844.52 million, making it one of the average sized ETFs attempting to match the Mid Cap Value segment of the US equity market.
Why Mid Cap Value
With market capitalization between $2 billion and $10 billion, mid cap companies usually contain higher growth prospects than large cap companies, and are considered less risky than their small cap counterparts. Thus, companies that fall under this category provide a stable and growth-heavy investment.
While value stocks have lower than average price-to-earnings and price-to-book ratios, they also have lower than average sales and earnings growth rates. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.
Costs
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.39%, making it one of the more expensive products in the space.
It has a 12-month trailing dividend yield of 0.83%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Consumer Discretionary sector--about 22.50% of the portfolio. Industrials and Financials round out the top three.
Looking at individual holdings, Performance Food Group Co (PFGC) accounts for about 2.59% of total assets, followed by Td Synnex Corp (SNX) and Lithia Motors Inc (LAD).
The top 10 holdings account for about 16.52% of total assets under management.
Performance and Risk
RWK seeks to match the performance of the OFI Revenue Weighted Mid Cap Index before fees and expenses. The S&P MidCap 400 Revenue-Weighted Index is constructed using a rules-based methodology that re-weights the constituent securities of the S&P MidCap 400 Index according to the revenue earned by the companies in the parent index, subject to a maximum 5% per company weighting.
The ETF return is roughly 9.26% so far this year and was up about 20.71% in the last one year (as of 09/18/2024). In the past 52-week period, it has traded between $87.20 and $116.52.
The ETF has a beta of 1.25 and standard deviation of 21.78% for the trailing three-year period, making it a medium risk choice in the space. With about 400 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco S&P MidCap 400 Revenue ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, RWK is a good option for those seeking exposure to the Style Box - Mid Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell Mid-Cap Value ETF (IWS) and the Vanguard Mid-Cap Value ETF (VOE) track a similar index. While iShares Russell Mid-Cap Value ETF has $13.45 billion in assets, Vanguard Mid-Cap Value ETF has $17.64 billion. IWS has an expense ratio of 0.23% and VOE charges 0.07%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
Designed to provide broad exposure to the Mid Cap Value segment of the US equity market, the Invesco S&P MidCap 400 Pure Value ETF (RFV) is a passively managed exchange traded fund launched on 03/01/2006.
The fund is sponsored by Invesco. It has amassed assets over $263.17 million, making it one of the average sized ETFs attempting to match the Mid Cap Value segment of the US equity market.
Why Mid Cap Value
Compared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. These types of companies, then, have a good balance of stability and growth potential.
Value stocks are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their lower than average sales and earnings growth rates. Considering long-term performance, value stocks have outperformed growth stocks in almost all markets; however, they are more likely to underperform growth stocks in strong bull markets.
Costs
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.35%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 0.91%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Consumer Discretionary sector--about 24.10% of the portfolio. Financials and Industrials round out the top three.
Looking at individual holdings, Avnet Inc (AVT) accounts for about 2.77% of total assets, followed by Td Synnex Corp (SNX) and United States Steel Corp (X).
The top 10 holdings account for about 23.71% of total assets under management.
Performance and Risk
RFV seeks to match the performance of the S&P MidCap 400 Pure Value Index before fees and expenses. The S&P MidCap 400 Pure Value Index measures the performance of securities that exhibit strong value characteristics in the S&P MidCap 400 Index.
The ETF has lost about -1.05% so far this year and was up about 15.47% in the last one year (as of 09/17/2024). In the past 52-week period, it has traded between $91.10 and $119.83.
The ETF has a beta of 1.35 and standard deviation of 22.06% for the trailing three-year period, making it a high risk choice in the space. With about 86 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco S&P MidCap 400 Pure Value ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, RFV is a good option for those seeking exposure to the Style Box - Mid Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell Mid-Cap Value ETF (IWS) and the Vanguard Mid-Cap Value ETF (VOE) track a similar index. While iShares Russell Mid-Cap Value ETF has $13.44 billion in assets, Vanguard Mid-Cap Value ETF has $17.60 billion. IWS has an expense ratio of 0.23% and VOE charges 0.07%.
Bottom-Line
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
Reporter Name | Deboer Sidney B |
Relationship | Director |
Type | Sell |
Amount | $2,973,675 |
SEC Filing | Form 4 |
Sidney B Deboer, a Director at Lithia Motors, sold a total of 10,777 shares of Lithia Motors Inc Common Stock on September 13, 2024. The shares were sold in two transactions at prices of $275.0 and $277.0 per share, totaling $2,973,675. Following these transactions, Deboer directly owns 35,352 shares of Lithia Motors Inc Common Stock.
SEC Filing: LITHIA MOTORS INC [ LAD ] - Form 4 - Sep. 16, 2024
PALM BEACH, Fla., Sept. 16, 2024 (GLOBE NEWSWIRE) -- FN Media GroupNews Commentary -- The Artificial Intelligence (AI) in cybersecurity solutions is projected to continue to have significant growth in next several years. The alarming rise in cyberattacks shows the urgent need for robust cybersecurity measures. Globally, the frequency of cyberattacks is on the rise, impacting individuals, enterprises, and governments, leading to substantial financial losses. Cybercriminals target endpoints, networks, and data, with motives ranging from political rivalry and financial gain to damaging reputation and furthering radical religious group interests. Prominent ransomware such as WannaCry, Petya, NotPetya, and BadRabbit have significantly affected large-scale enterprises and government organizations. The CISCO cybersecurity threat trends report for 2021 reveals alarming statistics, including a high percentage of organizations facing phishing attempts, malicious browser ads, crypto mining, and ransomware-related activities. The escalating sophistication of cyber threats, particularly ransomware, is compelling organizations globally to prioritize cybersecurity solutions and services for safeguarding critical IT infrastructure and sensitive data. According to Microsoft, the US was the primary target of 46% of cyberattacks in 2020, emphasizing the urgent need for robust cybersecurity measures worldwide. A report from MarketsAndMarkets projected that the global Artificial Intelligence in Cybersecurity Market size, which was valued at USD 22.4 billion in 2023, is expected to grow at a CAGR of 21.9% from 2023 to 2028. The revenue forecast for 2028 is projected to reach $60.6 billion. Active Companies in the industry includes: Plurilock Security Inc. (OTCQB: PLCKF) (TSX-V: PLUR), Palo Alto Networks (NASDAQ: PANW), SentinelOne® (NYSE: S), CrowdStrike Holdings, Inc. (NASDAQ: CRWD), Palantir Technologies Inc. (NYSE: PLTR).
The report said: “The growing adoption of real-time threat detection solutions within security operations is driving the demand for AI in cybersecurity. This trend is crucial for enhancing cybersecurity processes by integrating advanced technologies such as AI, ML, and cloud solutions. Organizations are increasingly recognizing the importance of proactive and swift threat identification and response due to the expanding complexity and prevalence of cyber-attacks. The incorporation of automation trends and smart data utilization in security solutions holds the potential for advanced real-time threat protection. Furthermore, technological advancements are accelerating digital transformation initiatives, aiming to reclaim lost time, reduce customer service costs, and mitigate risks associated with traditional business models. This technological evolution in advanced security solutions is fueling the demand for real-time security solutions, contributing to AI in cybersecurity market growth.”
Plurilock Security Inc. (OTCQB: PLCKF) (TSXV: PLUR) Enters Critical Services Partnership with TD SYNNEX to Provide AI Services in North America - Plurilock Security Inc. (“Plurilock” or the “Company”), a global cybersecurity services and solutions provider, announces a partnership with TD SYNNEX (NYSE: SNX), a leading global distributor and solutions aggregator for the IT ecosystem, to provide artificial intelligence (“AI”) services in North America.
Under the terms of the partnership, Plurilock will provide AI-focused critical services and cybersecurity solutions for TD SYNNEX across their North American operations. The services and solutions provided may include, but are not limited to: security operations; offensive security and penetration testing; data and intellectual property protection and loss prevention; Zero Trust architecture and implementation; digital and AI transformation; and related advisory and governance, risk, and compliance (GRC) services. This represents the initial phase of a potential wider partnership, with the possibility of future expansion into the company’s global footprint.
"TD SYNNEX is committed to uniting technology solutions that deliver business outcomes today and unlock growth for the future," said Joe Pittillo, Senior Vice President, Services at TD SYNNEX. "With Plurilock added as a service provider, we are able to enrich the breadth and depth of our AI services offerings in a critically important sector for our partners.”
"AI has been embedded in our DNA since our inception over eight years ago as a cybersecurity company," said Ian L. Paterson, CEO of Plurilock. "As AI continues to become pervasive, our customers rely on Plurilock for expert advice and guidance. Being chosen to deliver critical services in this specialized area is a strong endorsement of our expertise and further validation of our efforts as we continue our mission to protect the world's leading companies from today's threats." CONTINUED…Read this and more news for Plurilock Security at: https://plurilock.com/company/press-and-coverage/
In other market news of interest:
Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, recently announced that it has completed the acquisition of IBM's QRadar Software as a Service (SaaS) assets. This transaction underscores Palo Alto Networks and IBM's commitment to secure customers with best-in-class threat prevention, addressing ever-expanding attack surfaces with the complete platform approach that is required to simplify security operations.
Nikesh Arora, Chairman and CEO, Palo Alto Networks: "We are on a mission to help organizations transform their security operations and harness the potential of Precision AI-powered platforms to better protect their businesses. Our partnership with IBM reinforces our commitment to innovation and our conviction in the tremendous benefit of QRadar customers adopting Cortex XSIAM for a robust, data-driven security platform that offers transformative efficiency and effectiveness in defending against evolving cyber threats."
Arvind Krishna, Chairman and CEO, IBM: "Together, IBM and Palo Alto Networks are shaping the future of cybersecurity for our customers and the industry at large. Working with Palo Alto Networks will be a strategic advantage for IBM as our two companies partner on advanced threat protection, response, and security operations using Cortex XSIAM and watsonx, backed by IBM Consulting. At the same time, IBM will continue innovating to help secure organizations' hybrid cloud environments and AI initiatives, focusing our investments on data security and identity and access management technologies."
SentinelOne® (NYSE: S), a global leader in AI-powered security, recently announced that the SentinelOne Singularity™ Platform and Singularity Data Lake have achieved Federal Risk and Authorization Management Program (FedRAMP®) authorization at the High Impact Level from the FedRAMP Program Management Office. The authorization validates the strength of SentinelOne’s AI-powered solutions in providing industry-leading protection against cyberattacks to US Federal, Public Sector, Defense Industrial Base (DIB) and Critical Infrastructure entities.
The FedRAMP High Authorization certifies that SentinelOne has undergone and passed an extensive and rigorous third-party security assessment, demonstrating our compliance with NIST SP 800-53 security controls to protect the government’s most sensitive, unclassified data. This authorization reinforces SentinelOne’s ability to help the US Federal government secure their most sensitive and critical information assets. The SentinelOne Singularity Platform and Singularity Data Lake, delivered as cloud-native SaaS offerings, enable public sector entities to meet stringent security and compliance mandates including Executive Order (EO) 14028 and Office of Management and Budget (OMB) M-21-31.
CrowdStrike Holdings, Inc. (NASDAQ: CRWD), recently announced financial results for the second quarter fiscal year 2025, ended July 31, 2024. "Working with customers to recover from the July 19th incident, we emerge as an even more resilient and even more customer-obsessed CrowdStrike, continuing to aggressively invest in innovation. Our second quarter demonstrates the resilience of our business and platform – with LogScale Next-Gen SIEM, Identity Protection, and Cloud Security eclipsing $1 billion in combined ending ARR," said George Kurtz, CrowdStrike’s chief executive officer and co-founder. "In response to rising point product complexity and an elevated threat environment, organizations are increasingly focused on consolidating their cybersecurity vendors into a streamlined platform that delivers better security outcomes, which is CrowdStrike Falcon. Our vision and mission of stopping breaches remains unchanged."
Commenting on the company’s financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, "For the second quarter we delivered strong growth in revenue, operating profit and net income demonstrating our focused execution. Our market opportunity remains unchanged, and we believe our continued commitment to customers and innovation will drive even more Falcon platform adoption, protecting our customers from rapidly evolving cyber threats and enabling us to achieve our long-term targets."
Palantir Technologies Inc. (NYSE: PLTR) and BP p.l.c. have recently announced an enterprise agreement that will extend their strategic relationship and introduce new artificial intelligence capabilities with Palantir’s AIP software. The new contract will build on a decade of deep collaboration that has created a firm foundation for bp’s oil and gas production operations, using Palantir’s industry-leading software. Since 2014, Palantir software has been deployed widely by bp to support its oil and gas production operations, from offshore oil platforms in the North Sea and the Gulf of Mexico, to the Khazzan gas fields in Oman.
During that decade, it has supported bp’s digital transformation programme, with a focus on delivering efficiencies in the oil and gas production system. Central to that programme has been the development of a model-based digital twin of bp’s oil and gas production activity, enabling performance improvements. This entails the integration of dynamic digital physical asset models with real time data from over 2 million sensors into a single integrated operating picture, through Palantir software.
About FN Media Group:
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DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Plurilock Security Inc. by third party non-affiliated company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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Designed to provide broad exposure to the Style Box - Mid Cap Value category of the market, the Invesco S&P MidCap 400 Pure Value ETF (RFV) is a smart beta exchange traded fund launched on 03/01/2006.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
Managed by Invesco, RFV has amassed assets over $260.24 million, making it one of the average sized ETFs in the Style Box - Mid Cap Value. This particular fund seeks to match the performance of the S&P MidCap 400 Pure Value Index before fees and expenses.
The S&P MidCap 400 Pure Value Index measures the performance of securities that exhibit strong value characteristics in the S&P MidCap 400 Index.
Cost & Other Expenses
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Operating expenses on an annual basis are 0.35% for this ETF, which makes it on par with most peer products in the space.
RFV's 12-month trailing dividend yield is 0.92%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 24% of the portfolio, the fund has heaviest allocation to the Consumer Discretionary sector; Financials and Industrials round out the top three.
Taking into account individual holdings, Avnet Inc (AVT) accounts for about 2.77% of the fund's total assets, followed by Td Synnex Corp (SNX) and United States Steel Corp (X).
Its top 10 holdings account for approximately 23.71% of RFV's total assets under management.
Performance and Risk
The ETF has lost about -2.04% so far this year and is up roughly 14.74% in the last one year (as of 09/16/2024). In the past 52-week period, it has traded between $91.10 and $119.83.
The ETF has a beta of 1.35 and standard deviation of 22.03% for the trailing three-year period, making it a high risk choice in the space. With about 86 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco S&P MidCap 400 Pure Value ETF is a reasonable option for investors seeking to outperform the Style Box - Mid Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Russell Mid-Cap Value ETF (IWS) tracks Russell MidCap Value Index and the Vanguard Mid-Cap Value ETF (VOE) tracks CRSP U.S. Mid Cap Value Index. IShares Russell Mid-Cap Value ETF has $13.32 billion in assets, Vanguard Mid-Cap Value ETF has $17.45 billion. IWS has an expense ratio of 0.23% and VOE charges 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Mid Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
Used car auto e-retailer Carvana’s CVNA pivot from an aggressive growth strategy to operational efficiency and cost-cutting has been paying off really well. CVNA stock is having a great time on the bourses. So far in 2024, shares have rocketed 165%, handily outperforming the Auto-Tires-Trucks sector and its close peers like CarMax KMX, AutoNation AN, Lithia Motors LAD and Sonic Automotive SAH. This rally has added more than $10 billion to Carvana’s market capitalization in 2024 alone.
With such a massive run-up, investors must be wondering if they should lock in profits or buy the stock for more upside potential. Let’s delve into the company’s fundamentals to determine the best course of action.
YTD Share Price Comparison
CVNA Progressing Well on its Three-Step Plan
Carvana’s three-step plan — aimed at driving positive adjusted EBITDA, achieving significant adjusted EBITDA per unit and eventually returning to growth— has been central to its stunning turnaround after teetering on the brink of bankruptcy in 2022.
The company reached a critical milestone by achieving positive adjusted EBITDA in the second quarter of 2023. Several initiatives, including proprietary software development, logistics optimization, and the in-sourcing of third-party services, helped the company to reduce costs and improve profitability.
In the last reported quarter, Carvana’s adjusted EBITDA totaled $355 million, with margins increasing to 10.4% (highest among all the listed US auto retailers), up from 7.7% in the first quarter of 2024 and 5.2% in the year-ago period.For full-year 2024, it forecasts adjusted EBITDA to range between $1 billion and $1.2 billion, suggesting a massive uptick from $339 million last year.
Carvana’s efforts to reduce retail reconditioning and inbound transport costs are driving gains in adjusted total gross profit per unit. In the second quarter of 2024, the metric came in at $7,344, up 4.4% yearly and 8% sequentially.
Carvana’s ability to generate positive free cash flow is another encouraging sign for investors. In the first half of 2024, the company generated $415 million in free cash flow, slightly up from $393 million in the same period the previous year.
Despite economic headwinds such as high interest rates, Carvana has managed to grow its retail unit sales. In second-quarter 2024 alone, it increased its retail units by 33%. With potential rate cuts from the Federal Reserve on the horizon, the demand for used cars could see a further boost, which will bode well for Carvana. The company expects a sequential increase in retail unit sales in the third quarter of 2024. It expects full-year 2024 retail sales units to grow on a yearly basis.
Carvana’s Concerns: High Debt & Pricey Valuation
While Carvana’s operational performance has improved, its balance sheet remains a concern. As of June 30, 2024, Carvana’s long-term debt was $5.43 billion against cash/cash equivalents of $542 million. Its debt-to-capital ratio stands at 0.98 compared with the auto sector’s 0.57. Elevated leverage restricts the firm’s flexibility to tap into growth opportunities.
From a valuation standpoint, CVNA stock is trading at a forward 12-month sales multiple of 1.97, higher than the sector as well as the 5-year median. The stock seems to be overvalued now.
How Should You Play CVNA Stock Now?
Given Carvana's remarkable stock surge in 2024, it may indeed be too late for new investors to buy at these inflated levels. Also, the valuation isn’t appealing at the moment. That said, CVNA’s long-term prospects still remain strong.
Carvana currently has an average brokerage recommendation (ABR) of 2.46 on a scale of 1 to 5 (Strong Buy to Strong Sell), based on 19 ratings. Of those, 12 rate the stock as a Hold.
For those already invested, it might be wise to hold onto the stock as Carvana continues to execute its well-laid plan for profitability. However, new investors may want to wait for a more attractive entry point to reap handsome rewards.
CVNA stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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