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Lyft (LYFT) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest market close, Lyft (LYFT - Free Report) reached $12.27, with a -1.76% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 1.12%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 2.04%.
The the stock of ride-hailing company has fallen by 1.96% in the past month, leading the Computer and Technology sector's loss of 4.05% and the S&P 500's loss of 2.91%.
Investors will be eagerly watching for the performance of Lyft in its upcoming earnings disclosure. On that day, Lyft is projected to report earnings of $0.20 per share, which would represent year-over-year growth of 33.33%. In the meantime, our current consensus estimate forecasts the revenue to be $1.47 billion, indicating a 15.16% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.07 per share and revenue of $6.6 billion, indicating changes of +12.63% and +13.99%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lyft. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Lyft boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Lyft currently has a Forward P/E ratio of 11.64. This indicates a discount in contrast to its industry's Forward P/E of 21.5.
We can additionally observe that LYFT currently boasts a PEG ratio of 0.37. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Services industry had an average PEG ratio of 1.35 as trading concluded yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% 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.
To follow LYFT in the coming trading sessions, be sure to utilize Zacks.com.
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Lyft (LYFT) Suffers a Larger Drop Than the General Market: Key Insights
In the latest market close, Lyft (LYFT - Free Report) reached $12.27, with a -1.76% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 1.12%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 2.04%.
The the stock of ride-hailing company has fallen by 1.96% in the past month, leading the Computer and Technology sector's loss of 4.05% and the S&P 500's loss of 2.91%.
Investors will be eagerly watching for the performance of Lyft in its upcoming earnings disclosure. On that day, Lyft is projected to report earnings of $0.20 per share, which would represent year-over-year growth of 33.33%. In the meantime, our current consensus estimate forecasts the revenue to be $1.47 billion, indicating a 15.16% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.07 per share and revenue of $6.6 billion, indicating changes of +12.63% and +13.99%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lyft. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Lyft boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Lyft currently has a Forward P/E ratio of 11.64. This indicates a discount in contrast to its industry's Forward P/E of 21.5.
We can additionally observe that LYFT currently boasts a PEG ratio of 0.37. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Services industry had an average PEG ratio of 1.35 as trading concluded yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% 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.
To follow LYFT in the coming trading sessions, be sure to utilize Zacks.com.