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) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Lyft (LYFT - Free Report) closed the most recent trading day at $14.83, moving +1.51% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.66%.
Coming into today, shares of the ride-hailing company had gained 3.54% in the past month. In that same time, the Computer and Technology sector lost 2.58%, while the S&P 500 lost 1.21%.
The upcoming earnings release of Lyft will be of great interest to investors. The company is expected to report EPS of $0.39, up 56% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.81 billion, indicating a 13.68% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.57 per share and revenue of $7.3 billion, which would represent changes of +227.08% and +15.51%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Lyft. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.94% rise in the Zacks Consensus EPS estimate. Currently, Lyft is carrying a Zacks Rank of #3 (Hold).
Investors should also note Lyft's current valuation metrics, including its Forward P/E ratio of 9.31. Its industry sports an average Forward P/E of 14.8, so one might conclude that Lyft is trading at a discount comparatively.
We can additionally observe that LYFT currently boasts a PEG ratio of 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.61.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
Image: Bigstock
Lyft (LYFT) Ascends While Market Falls: Some Facts to Note
Lyft (LYFT - Free Report) closed the most recent trading day at $14.83, moving +1.51% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.66%.
Coming into today, shares of the ride-hailing company had gained 3.54% in the past month. In that same time, the Computer and Technology sector lost 2.58%, while the S&P 500 lost 1.21%.
The upcoming earnings release of Lyft will be of great interest to investors. The company is expected to report EPS of $0.39, up 56% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.81 billion, indicating a 13.68% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.57 per share and revenue of $7.3 billion, which would represent changes of +227.08% and +15.51%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Lyft. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.94% rise in the Zacks Consensus EPS estimate. Currently, Lyft is carrying a Zacks Rank of #3 (Hold).
Investors should also note Lyft's current valuation metrics, including its Forward P/E ratio of 9.31. Its industry sports an average Forward P/E of 14.8, so one might conclude that Lyft is trading at a discount comparatively.
We can additionally observe that LYFT currently boasts a PEG ratio of 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.61.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.