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Lyft (LYFT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Lyft (LYFT - Free Report) ended the recent trading session at $12.47, demonstrating a -0.48% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq decreased by 0.36%.
Shares of the ride-hailing company witnessed a gain of 9.24% over the previous month, beating the performance of the Computer and Technology sector with its loss of 0.09% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of Lyft in its upcoming release. The company is predicted to post an EPS of $0.18, indicating a 25% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.41 billion, indicating a 21.75% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.73 per share and a revenue of $5.58 billion, indicating changes of +12.31% and +26.62%, respectively, from the former year.
Any recent changes to analyst estimates for Lyft should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Lyft currently has a Zacks Rank of #3 (Hold).
Investors should also note Lyft's current valuation metrics, including its Forward P/E ratio of 17.23. This represents a discount compared to its industry's average Forward P/E of 29.44.
It is also worth noting that LYFT currently has a PEG ratio of 0.43. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Internet - Services industry stood at 1.8 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 135, putting it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Lyft (LYFT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Lyft (LYFT - Free Report) ended the recent trading session at $12.47, demonstrating a -0.48% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq decreased by 0.36%.
Shares of the ride-hailing company witnessed a gain of 9.24% over the previous month, beating the performance of the Computer and Technology sector with its loss of 0.09% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of Lyft in its upcoming release. The company is predicted to post an EPS of $0.18, indicating a 25% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.41 billion, indicating a 21.75% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.73 per share and a revenue of $5.58 billion, indicating changes of +12.31% and +26.62%, respectively, from the former year.
Any recent changes to analyst estimates for Lyft should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Lyft currently has a Zacks Rank of #3 (Hold).
Investors should also note Lyft's current valuation metrics, including its Forward P/E ratio of 17.23. This represents a discount compared to its industry's average Forward P/E of 29.44.
It is also worth noting that LYFT currently has a PEG ratio of 0.43. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Internet - Services industry stood at 1.8 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 135, putting it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.