The Zacks Computer and Technology sector has sailed through rough waters in 2022 amid a hawkish pivot from the Federal Reserve, down more than 30% and underperforming the S&P 500.
A company residing in the realm, Lyft, Inc. (LYFT - Free Report) , is on deck to unveil Q3 earnings on November 7th, after the market close.
Lyft offers an on-demand ride-hailing platform for consumers in the United States and Canada. Currently, the company carries a Zacks Rank #3 (Hold) paired with an overall VGM Score of a C.
How do things shape up heading into the print? Let’s take a closer look.
Share Performance & Valuation
Year-to-date, it’s been a challenging road for Lyft shares, down more than 60% and underperforming the general market by a notable margin.
Over the last three months, shares haven’t seen much relief, down roughly 20% and again lagging behind the S&P 500.
Shares currently trade at a 1.2X forward price-to-sales ratio, below the 3.8X median since IPO in 2019 and representing a 63% discount relative to the Zacks Computer and Technology sector.
Quarterly Estimates
Analysts have been quiet over the last several months, with zero earnings estimate revisions coming in. Still, the Zacks Consensus EPS Estimate of $0.08 suggests Y/Y earnings growth of 60%.
Lyft’s top-line is also forecasted to expand by a fair margin; the Zacks Consensus Sales Estimate of $1.1 billion indicates Y/Y revenue growth of nearly 22%.
Quarterly Performance & Market Reactions
Lyft has consistently provided better-than-expected earnings, exceeding the Zacks Consensus EPS Estimate by triple-digit percentages in three of its last four prints. Just in its latest release, Lyft registered a 340% EPS surprise.
Sales results have also been consistently strong, with the company exceeding revenue estimates in nine of its last ten quarters. Below is a chart illustrating the company’s revenue on a quarterly basis.
In addition, the market was impressed with Lyft’s recent quarter, with shares gaining more than 15% following the print.
Putting Everything Together
Lyft shares have struggled in 2022, underperforming the general market across several timeframes.
The company’s forward P/S ratio has fallen by a fair margin, below its median since its IPO and its Zacks sector average.
Analysts have been silent for the quarter to be reported, with estimates suggesting strong Y/Y upticks in both revenue and earnings.
The company has consistently exceeded quarterly estimates, and the market cheered on its latest print.
Heading into the release, Lyft (LYFT - Free Report) carries a Zacks Rank #3 (Hold) paired with an Earnings ESP Score of 22%.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
The Zacks Computer and Technology sector has sailed through rough waters in 2022 amid a hawkish pivot from the Federal Reserve, down more than 30% and underperforming the S&P 500.
A company residing in the realm, Lyft, Inc. (LYFT - Free Report) , is on deck to unveil Q3 earnings on November 7th, after the market close.
Lyft offers an on-demand ride-hailing platform for consumers in the United States and Canada. Currently, the company carries a Zacks Rank #3 (Hold) paired with an overall VGM Score of a C.
How do things shape up heading into the print? Let’s take a closer look.
Share Performance & Valuation
Year-to-date, it’s been a challenging road for Lyft shares, down more than 60% and underperforming the general market by a notable margin.
Over the last three months, shares haven’t seen much relief, down roughly 20% and again lagging behind the S&P 500.
Shares currently trade at a 1.2X forward price-to-sales ratio, below the 3.8X median since IPO in 2019 and representing a 63% discount relative to the Zacks Computer and Technology sector.
Quarterly Estimates
Analysts have been quiet over the last several months, with zero earnings estimate revisions coming in. Still, the Zacks Consensus EPS Estimate of $0.08 suggests Y/Y earnings growth of 60%.
Lyft’s top-line is also forecasted to expand by a fair margin; the Zacks Consensus Sales Estimate of $1.1 billion indicates Y/Y revenue growth of nearly 22%.
Quarterly Performance & Market Reactions
Lyft has consistently provided better-than-expected earnings, exceeding the Zacks Consensus EPS Estimate by triple-digit percentages in three of its last four prints. Just in its latest release, Lyft registered a 340% EPS surprise.
Sales results have also been consistently strong, with the company exceeding revenue estimates in nine of its last ten quarters. Below is a chart illustrating the company’s revenue on a quarterly basis.
In addition, the market was impressed with Lyft’s recent quarter, with shares gaining more than 15% following the print.
Putting Everything Together
Lyft shares have struggled in 2022, underperforming the general market across several timeframes.
The company’s forward P/S ratio has fallen by a fair margin, below its median since its IPO and its Zacks sector average.
Analysts have been silent for the quarter to be reported, with estimates suggesting strong Y/Y upticks in both revenue and earnings.
The company has consistently exceeded quarterly estimates, and the market cheered on its latest print.
Heading into the release, Lyft (LYFT - Free Report) carries a Zacks Rank #3 (Hold) paired with an Earnings ESP Score of 22%.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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