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Lyft (LYFT) Outperforms Broader Market: What You Need to Know
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Lyft (LYFT - Free Report) closed the most recent trading day at $19.70, moving +2.52% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.16%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.26%.
Coming into today, shares of the ride-hailing company had lost 5.69% in the past month. In that same time, the Computer and Technology sector lost 0.85%, while the S&P 500 gained 1.89%.
Market participants will be closely following the financial results of Lyft in its upcoming release. It is anticipated that the company will report an EPS of $0.32, marking a 6.67% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.76 billion, up 13.58% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.19 per share and a revenue of $6.5 billion, signifying shifts of +25.26% and 0%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lyft. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Lyft is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Lyft is presently being traded at a Forward P/E ratio of 12.82. This represents a discount compared to its industry average Forward P/E of 17.85.
One should further note that LYFT currently holds a PEG ratio of 0.53. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Services was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 51, this industry ranks in the top 21% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Lyft (LYFT) Outperforms Broader Market: What You Need to Know
Lyft (LYFT - Free Report) closed the most recent trading day at $19.70, moving +2.52% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.16%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.26%.
Coming into today, shares of the ride-hailing company had lost 5.69% in the past month. In that same time, the Computer and Technology sector lost 0.85%, while the S&P 500 gained 1.89%.
Market participants will be closely following the financial results of Lyft in its upcoming release. It is anticipated that the company will report an EPS of $0.32, marking a 6.67% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.76 billion, up 13.58% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.19 per share and a revenue of $6.5 billion, signifying shifts of +25.26% and 0%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lyft. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Lyft is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Lyft is presently being traded at a Forward P/E ratio of 12.82. This represents a discount compared to its industry average Forward P/E of 17.85.
One should further note that LYFT currently holds a PEG ratio of 0.53. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Services was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 51, this industry ranks in the top 21% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.