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In the latest market close, Lyft (LYFT) reached $13.58, with a -0.22% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.09%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.1%.
The ride-hailing company's shares have seen a decrease of 18.84% over the last month, not keeping up with the Computer and Technology sector's gain of 3.04% and the S&P 500's loss of 0.29%.
Analysts and investors alike will be keeping a close eye on the performance of Lyft in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.25, showcasing a 31.58% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.55 billion, indicating a 26.76% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.92 per share and a revenue of $5.79 billion, signifying shifts of +41.54% and +31.47%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Lyft. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Lyft possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Lyft is currently trading at a Forward P/E ratio of 14.79. This denotes a discount relative to the industry's average Forward P/E of 23.71.
One should further note that LYFT currently holds a PEG ratio of 0.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.06.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 30, this industry ranks in the top 12% of all industries, numbering over 250.