In the latest close session, Lyft (LYFT) was down 2.17% at $15.32. The stock trailed the S&P 500, which registered a daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.43%, and the technology-centric Nasdaq increased by 0.09%.
Coming into today, shares of the ride-hailing company had gained 0.64% in the past month. In that same time, the Computer and Technology sector gained 6.2%, while the S&P 500 gained 4.37%.
Analysts and investors alike will be keeping a close eye on the performance of Lyft in its upcoming earnings disclosure. On that day, Lyft is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 12.5%. Alongside, our most recent consensus estimate is anticipating revenue of $1.61 billion, indicating a 12.28% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.1 per share and a revenue of $6.51 billion, signifying shifts of +15.79% and +12.5%, respectively, from the last year.
Any recent changes to analyst estimates for Lyft should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.27% downward. As of now, Lyft holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Lyft is holding a Forward P/E ratio of 14.24. This valuation marks a discount compared to its industry average Forward P/E of 20.26.
It's also important to note that LYFT currently trades at a PEG ratio of 0.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Internet - Services industry stood at 1.59 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Lyft, Inc. (LYFT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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