Back to top

Image: Bigstock

Lyft (LYFT) Gains But Lags Market: What You Should Know

Read MoreHide Full Article

Lyft (LYFT - Free Report) closed the most recent trading day at $24.17, moving +1.21% from the previous trading session. This move lagged the S&P 500's daily gain of 9.28%. Elsewhere, the Dow gained 9.36%, while the tech-heavy Nasdaq added 9.34%.

Coming into today, shares of the ride-hailing company had lost 49.22% in the past month. In that same time, the Computer and Technology sector lost 26.09%, while the S&P 500 lost 26.56%.

Wall Street will be looking for positivity from LYFT as it approaches its next earnings report date. The company is expected to report EPS of -$0.67, up 92.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, up 36.17% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.09 per share and revenue of $4.63 billion, which would represent changes of +27.18% and +28.15%, respectively, from the prior year.

Investors might also notice recent changes 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 company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 4.07% higher within the past month. LYFT is holding a Zacks Rank of #1 (Strong Buy) right now.

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

Lyft, Inc. (LYFT) - free report >>

Published in