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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.
Image Source: Zacks Investment Research
Over the last three months, shares haven’t seen much relief, down roughly 20% and again lagging behind the S&P 500.
Image Source: Zacks Investment Research
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.
Image Source: Zacks Investment Research
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%.
Image Source: Zacks Investment Research
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.
Image Source: Zacks Investment Research
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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Lyft Q3 Preview: Another EPS Beat Inbound?
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.
Image Source: Zacks Investment Research
Over the last three months, shares haven’t seen much relief, down roughly 20% and again lagging behind the S&P 500.
Image Source: Zacks Investment Research
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.
Image Source: Zacks Investment Research
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%.
Image Source: Zacks Investment Research
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.
Image Source: Zacks Investment Research
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%.