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Lyft (LYFT) Stock Sinks As Market Gains: What You Should Know
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Lyft (LYFT - Free Report) closed at $30.50 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's 3.06% gain on the day. Meanwhile, the Dow gained 2.39%, and the Nasdaq, a tech-heavy index, added 3.95%.
Prior to today's trading, shares of the ride-hailing company had gained 60.36% over the past month. This has outpaced the Computer and Technology sector's gain of 2.22% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from LYFT as it approaches its next earnings release. On that day, LYFT is projected to report earnings of -$0.63 per share, which would represent year-over-year growth of 93.02%. Our most recent consensus estimate is calling for quarterly revenue of $869.38 million, up 12.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.47 per share and revenue of $3.44 billion, which would represent changes of +13.94% and -4.88%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for LYFT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 16.7% lower. LYFT is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Lyft (LYFT) Stock Sinks As Market Gains: What You Should Know
Lyft (LYFT - Free Report) closed at $30.50 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's 3.06% gain on the day. Meanwhile, the Dow gained 2.39%, and the Nasdaq, a tech-heavy index, added 3.95%.
Prior to today's trading, shares of the ride-hailing company had gained 60.36% over the past month. This has outpaced the Computer and Technology sector's gain of 2.22% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from LYFT as it approaches its next earnings release. On that day, LYFT is projected to report earnings of -$0.63 per share, which would represent year-over-year growth of 93.02%. Our most recent consensus estimate is calling for quarterly revenue of $869.38 million, up 12.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.47 per share and revenue of $3.44 billion, which would represent changes of +13.94% and -4.88%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for LYFT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 16.7% lower. LYFT is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.