We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Lyft (LYFT) Soars 9.6%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Lyft (LYFT - Free Report) shares rallied 9.6% in the last trading session to close at $13.60. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.8% gain over the past four weeks.
The uptick was owing to Tesla's (TSLA - Free Report) disappointing Robotaxi event. The event failed to excite investors due to the lack of detail provided by TSLA on its latest full self-driving technology advancements. TSLA’s failure to provide insight on its ride-sharing service strategy also dampaned enthusiasm of investors. Tesla's unimpressive event buoyed shares of ride-sharing companies like LYFT.
This ride-hailing company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -20.8%. Revenues are expected to be $1.42 billion, up 22.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Lyft, the consensus EPS estimate for the quarter has been revised 16.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LYFT going forward to see if this recent jump can turn into more strength down the road.
Lyft is a member of the Zacks Internet - Services industry. One other stock in the same industry, LivePerson (LPSN - Free Report) , finished the last trading session 8.3% higher at $1.17. LPSN has returned 1.9% over the past month.
For LivePerson, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. This represents a change of -266.7% from what the company reported a year ago. LivePerson currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Lyft (LYFT) Soars 9.6%: Is Further Upside Left in the Stock?
Lyft (LYFT - Free Report) shares rallied 9.6% in the last trading session to close at $13.60. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.8% gain over the past four weeks.
The uptick was owing to Tesla's (TSLA - Free Report) disappointing Robotaxi event. The event failed to excite investors due to the lack of detail provided by TSLA on its latest full self-driving technology advancements. TSLA’s failure to provide insight on its ride-sharing service strategy also dampaned enthusiasm of investors. Tesla's unimpressive event buoyed shares of ride-sharing companies like LYFT.
This ride-hailing company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -20.8%. Revenues are expected to be $1.42 billion, up 22.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Lyft, the consensus EPS estimate for the quarter has been revised 16.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LYFT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Lyft is a member of the Zacks Internet - Services industry. One other stock in the same industry, LivePerson (LPSN - Free Report) , finished the last trading session 8.3% higher at $1.17. LPSN has returned 1.9% over the past month.
For LivePerson, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. This represents a change of -266.7% from what the company reported a year ago. LivePerson currently has a Zacks Rank of #3 (Hold).