Lyft (LYFT) closed the most recent trading day at $13.71, moving +2.39% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.75%. Meanwhile, the Dow experienced a rise of 1.86%, and the technology-dominated Nasdaq saw an increase of 2.54%.
Coming into today, shares of the ride-hailing company had lost 2.12% in the past month. In that same time, the Computer and Technology sector lost 3.11%, while the S&P 500 lost 1.63%.
Market participants will be closely following the financial results of Lyft in its upcoming release. On that day, Lyft is projected to report earnings of $0.39 per share, which would represent year-over-year growth of 56%. Alongside, our most recent consensus estimate is anticipating revenue of $1.8 billion, indicating a 13.58% upward movement from the same quarter last year.
LYFT's full-year Zacks Consensus Estimates are calling for earnings of $1.57 per share and revenue of $7.28 billion. These results would represent year-over-year changes of +227.08% and +15.3%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Lyft. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.94% higher. At present, Lyft boasts a Zacks Rank of #3 (Hold).
Investors should also note Lyft's current valuation metrics, including its Forward P/E ratio of 8.53. This signifies a discount in comparison to the average Forward P/E of 15.6 for its industry.
Investors should also note that LYFT has a PEG ratio of 0.35 right now. 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. The Internet - Services industry had an average PEG ratio of 1.7 as trading concluded yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 29% 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.
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 Report
This article originally published on Zacks Investment Research (zacks.com).