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Lyft (LYFT - Free Report) ended the recent trading session at $15.73, demonstrating a +1.75% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.66%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 1.05%.
The ride-hailing company's shares have seen a decrease of 7.54% over the last month, not keeping up with the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 0.55%.
The investment community will be closely monitoring the performance of Lyft in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.43, marking a 65.38% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.93 billion, up 14.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.63 per share and a revenue of $7.31 billion, demonstrating changes of +239.58% and +15.8%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lyft. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.05% upward. Lyft presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Lyft is at present trading with a Forward P/E ratio of 9.47. Its industry sports an average Forward P/E of 15.25, so one might conclude that Lyft is trading at a discount comparatively.
It's also important to note that LYFT currently trades at a PEG ratio of 0.47. 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 1.68.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
View the Zacks #1 Rank List
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Why Lyft (LYFT) Outpaced the Stock Market Today
Lyft (LYFT - Free Report) ended the recent trading session at $15.73, demonstrating a +1.75% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.66%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 1.05%.
The ride-hailing company's shares have seen a decrease of 7.54% over the last month, not keeping up with the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 0.55%.
The investment community will be closely monitoring the performance of Lyft in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.43, marking a 65.38% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.93 billion, up 14.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.63 per share and a revenue of $7.31 billion, demonstrating changes of +239.58% and +15.8%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lyft. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.05% upward. Lyft presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Lyft is at present trading with a Forward P/E ratio of 9.47. Its industry sports an average Forward P/E of 15.25, so one might conclude that Lyft is trading at a discount comparatively.
It's also important to note that LYFT currently trades at a PEG ratio of 0.47. 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 1.68.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.