We recently issued an updated report on Lyft, Inc. (LYFT - Free Report) . Factors likestrong rise in Active Riders and acquisition of Halo Cars are impressive.
Lyft, which competes with Uber (UBER - Free Report) in the ride-hailing market, has been towel served by the growth in Active Riders. Evidently, total revenues soared 68% in 2019 backed by a double digit growth in revenue. With the uptrend in Active Riders anticipated to continue, the company expects first-quarter revenues between $1,055 million and $1,060 million. The top line figure indicates year-over-year surge of 36-37%. The company's decision to stick to the first-quarter 2020 outlook despite coronavirus woes is an added positive.
With each passing day, the market for driverless or self-driving cars is gaining prominence. Lyft aims to become a key player in this space. To this end, on Jun 27, 2019, Lyft announced that it has entered into a partnership with Waymo — a subsidiary of Alphabet. Further, we are positive about the company’s recent acquisition of Halo Cars.
Zacks Rank and Other Stocks to consider
Currently, Lyft sports a Zacks Rank #1 (Strong Buy)
Investors interested in the Zacks Computer and Technology sector may also consider Avid Technology, Inc. and Akamai Technologies, Inc. (AKAM - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term (three to five years) expected earnings per share growth rate for Avid Technology and Akamai Technologies is pegged at 15%and 12%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
We recently issued an updated report on Lyft, Inc. (LYFT - Free Report) . Factors likestrong rise in Active Riders and acquisition of Halo Cars are impressive.
Lyft, which competes with Uber (UBER - Free Report) in the ride-hailing market, has been towel served by the growth in Active Riders. Evidently, total revenues soared 68% in 2019 backed by a double digit growth in revenue. With the uptrend in Active Riders anticipated to continue, the company expects first-quarter revenues between $1,055 million and $1,060 million. The top line figure indicates year-over-year surge of 36-37%. The company's decision to stick to the first-quarter 2020 outlook despite coronavirus woes is an added positive.
With each passing day, the market for driverless or self-driving cars is gaining prominence. Lyft aims to become a key player in this space. To this end, on Jun 27, 2019, Lyft announced that it has entered into a partnership with Waymo — a subsidiary of Alphabet. Further, we are positive about the company’s recent acquisition of Halo Cars.
Zacks Rank and Other Stocks to consider
Currently, Lyft sports a Zacks Rank #1 (Strong Buy)
Investors interested in the Zacks Computer and Technology sector may also consider Avid Technology, Inc. and Akamai Technologies, Inc. (AKAM - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term (three to five years) expected earnings per share growth rate for Avid Technology and Akamai Technologies is pegged at 15%and 12%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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