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Lyft (LYFT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest market close, Lyft (LYFT - Free Report) reached $13.58, with a -0.22% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.09%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.1%.
The ride-hailing company's shares have seen a decrease of 18.84% over the last month, not keeping up with the Computer and Technology sector's gain of 3.04% and the S&P 500's loss of 0.29%.
Analysts and investors alike will be keeping a close eye on the performance of Lyft in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.25, showcasing a 31.58% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.55 billion, indicating a 26.76% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.92 per share and a revenue of $5.79 billion, signifying shifts of +41.54% and +31.47%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Lyft. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Lyft possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Lyft is currently trading at a Forward P/E ratio of 14.79. This denotes a discount relative to the industry's average Forward P/E of 23.71.
One should further note that LYFT currently holds a PEG ratio of 0.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.06.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 30, this industry ranks in the top 12% of all industries, numbering over 250.
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.
To follow LYFT in the coming trading sessions, be sure to utilize Zacks.com.
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Lyft (LYFT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest market close, Lyft (LYFT - Free Report) reached $13.58, with a -0.22% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.09%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.1%.
The ride-hailing company's shares have seen a decrease of 18.84% over the last month, not keeping up with the Computer and Technology sector's gain of 3.04% and the S&P 500's loss of 0.29%.
Analysts and investors alike will be keeping a close eye on the performance of Lyft in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.25, showcasing a 31.58% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.55 billion, indicating a 26.76% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.92 per share and a revenue of $5.79 billion, signifying shifts of +41.54% and +31.47%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Lyft. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Lyft possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Lyft is currently trading at a Forward P/E ratio of 14.79. This denotes a discount relative to the industry's average Forward P/E of 23.71.
One should further note that LYFT currently holds a PEG ratio of 0.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.06.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 30, this industry ranks in the top 12% of all industries, numbering over 250.
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.
To follow LYFT in the coming trading sessions, be sure to utilize Zacks.com.