Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Akamai Technologies, Inc. (AKAM) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
Akamai Technologies, Inc. (AKAM) - $25 value - yours FREE >>
Image: Bigstock
Lyft Gains on Active Rider Growth and Halo Cars Acquisition
We recently issued an updated report on Lyft, Inc. (LYFT - Free Report) . Factors likestrong rise in Active Riders and acquisition of Halo Cars are impressive.
Lyft, which competes with Uber (UBER - Free Report) in the ride-hailing market, has been towel served by the growth in Active Riders. Evidently, total revenues soared 68% in 2019 backed by a double digit growth in revenue. With the uptrend in Active Riders anticipated to continue, the company expects first-quarter revenues between $1,055 million and $1,060 million. The top line figure indicates year-over-year surge of 36-37%. The company's decision to stick to the first-quarter 2020 outlook despite coronavirus woes is an added positive.
Lyft, Inc. Price
Lyft, Inc. price | Lyft, Inc. Quote
With each passing day, the market for driverless or self-driving cars is gaining prominence. Lyft aims to become a key player in this space. To this end, on Jun 27, 2019, Lyft announced that it has entered into a partnership with Waymo — a subsidiary of Alphabet. Further, we are positive about the company’s recent acquisition of Halo Cars.
Zacks Rank and Other Stocks to consider
Currently, Lyft sports a Zacks Rank #1 (Strong Buy)
Investors interested in the Zacks Computer and Technology sector may also consider Avid Technology, Inc. and Akamai Technologies, Inc. (AKAM - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term (three to five years) expected earnings per share growth rate for Avid Technology and Akamai Technologies is pegged at 15%and 12%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>