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Lyft (LYFT) Stock Drops Despite Market Gains: Important Facts to Note
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Lyft (LYFT - Free Report) ended the recent trading session at $19.15, demonstrating a -3.23% change from the preceding day's closing price. This change lagged the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.69%.
Prior to today's trading, shares of the ride-hailing company had lost 13.84% lagged the Computer and Technology sector's loss of 0.21% and the S&P 500's gain of 0.55%.
Investors will be eagerly watching for the performance of Lyft in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.32, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.76 billion, indicating a 13.58% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.19 per share and a revenue of $6.5 billion, indicating changes of +25.26% and 0%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Lyft. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Lyft is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Lyft is presently being traded at a Forward P/E ratio of 13.21. This denotes a discount relative to the industry average Forward P/E of 17.15.
Investors should also note that LYFT has a PEG ratio of 0.54 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.63.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Lyft (LYFT) Stock Drops Despite Market Gains: Important Facts to Note
Lyft (LYFT - Free Report) ended the recent trading session at $19.15, demonstrating a -3.23% change from the preceding day's closing price. This change lagged the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.69%.
Prior to today's trading, shares of the ride-hailing company had lost 13.84% lagged the Computer and Technology sector's loss of 0.21% and the S&P 500's gain of 0.55%.
Investors will be eagerly watching for the performance of Lyft in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.32, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.76 billion, indicating a 13.58% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.19 per share and a revenue of $6.5 billion, indicating changes of +25.26% and 0%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Lyft. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Lyft is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Lyft is presently being traded at a Forward P/E ratio of 13.21. This denotes a discount relative to the industry average Forward P/E of 17.15.
Investors should also note that LYFT has a PEG ratio of 0.54 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.63.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.