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The company has an impressive earnings surprise history, having surpassed Zacks Consensus Estimate in three of four quarters and missing in one, the average beat being 255.88%.
The Zacks Consensus Estimate for LYFT’s soon-to-be reported quarter’s earnings has been unchanged in the past 60 days at 8 cents per share.
We expect Lyft's performance in the to-be-reported quarter to have been boosted by an uptick in total revenues.
The Zacks Consensus Estimate for fourth-quarter 2023 revenues is pegged at $1.22 billion, indicating a 3.6% year-over-year rise. Its top-line growth is likely to have been driven by a rise in Active Riders as the ride-share market rebounds from the pandemic lows. Our model estimates Active Riders of 22.20 million for fourth-quarter 2023, implying a 9.3% year-over-year increase.
Revenue Per Active Rider is pegged at $54.59, suggesting a 5.4% decline from the year-ago reported figure. A rise in costs is likely to have hurt the bottom line. High oil prices are likely to have led to elevated operating costs in the fourth quarter of 2023.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Lyft. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Lyft has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks from the Zacks Computer and Technology sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this time around.
Akamai is well-positioned to gain from huge mobile data traffic growth, driven by the increasing adoption of mobile data/apps. Strength in segmentation products and growing demand for Web Application Firewall solutions are driving the top line in the Security Technology Group. Cost-optimization initiatives are driving the company’s bottom line.
Monday.com (MNDY - Free Report) currently has an Earnings ESP of +18.36% and a Zacks Rank #3. It is set to release fourth-quarter 2023 earnings results on Feb 12.
MNDY has a stellar history with respect to its earnings surprise, having beaten the Zacks Consensus Estimate in the previous four quarters, the average beat being 200.8%. The Zacks Consensus Estimate for the soon-to-be-reported quarter has been revised 7.14% upward over the past 60 days.
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Lyft (LYFT) Set to Report Q4 Earnings: What's in the Offing?
Lyft (LYFT - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 13, after market close.
The company has an impressive earnings surprise history, having surpassed Zacks Consensus Estimate in three of four quarters and missing in one, the average beat being 255.88%.
Lyft, Inc. Price and EPS Surprise
Lyft, Inc. price-eps-surprise | Lyft, Inc. Quote
The Zacks Consensus Estimate for LYFT’s soon-to-be reported quarter’s earnings has been unchanged in the past 60 days at 8 cents per share.
We expect Lyft's performance in the to-be-reported quarter to have been boosted by an uptick in total revenues.
The Zacks Consensus Estimate for fourth-quarter 2023 revenues is pegged at $1.22 billion, indicating a 3.6% year-over-year rise. Its top-line growth is likely to have been driven by a rise in Active Riders as the ride-share market rebounds from the pandemic lows. Our model estimates Active Riders of 22.20 million for fourth-quarter 2023, implying a 9.3% year-over-year increase.
Revenue Per Active Rider is pegged at $54.59, suggesting a 5.4% decline from the year-ago reported figure. A rise in costs is likely to have hurt the bottom line. High oil prices are likely to have led to elevated operating costs in the fourth quarter of 2023.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Lyft. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Lyft has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks from the Zacks Computer and Technology sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this time around.
Akamai Technologies (AKAM - Free Report) currently has an Earnings ESP of +1.61% and carries a Zacks Rank #3. It is set to release its fourth-quarter 2023 results on Feb 13. You can see the complete list of today’s Zacks #1 Rank stocks here.
Akamai is well-positioned to gain from huge mobile data traffic growth, driven by the increasing adoption of mobile data/apps. Strength in segmentation products and growing demand for Web Application Firewall solutions are driving the top line in the Security Technology Group. Cost-optimization initiatives are driving the company’s bottom line.
Monday.com (MNDY - Free Report) currently has an Earnings ESP of +18.36% and a Zacks Rank #3. It is set to release fourth-quarter 2023 earnings results on Feb 12.
MNDY has a stellar history with respect to its earnings surprise, having beaten the Zacks Consensus Estimate in the previous four quarters, the average beat being 200.8%. The Zacks Consensus Estimate for the soon-to-be-reported quarter has been revised 7.14% upward over the past 60 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.