Lyft (LYFT) stock dips more than market, but outperforms sector; mixed outlook.

From Nasdaq.: 2024-09-20 18:15:20

Lyft (LYFT) closed at $12.47, down 0.48% from the previous day, trailing the S&P 500’s 0.19% loss. However, the Dow gained 0.09% and the Nasdaq fell by 0.36%. Over the last month, Lyft’s stock surged by 9.24%, outperforming the Computer and Technology sector and the S&P 500.

Lyft is expected to report an EPS of $0.18, a 25% drop from last year. Revenue is forecasted to be $1.41 billion, a 21.75% increase year-over-year. For the full fiscal year, estimates predict earnings of $0.73 per share and revenue of $5.58 billion, showing positive gains.

Analysts’ estimate changes can reflect business trends. The Zacks Rank model incorporates these changes to determine ratings, with #1 (Strong Buy) stocks historically returning +25% annually since 1988. Lyft currently holds a Zacks Rank of #3 (Hold).

Lyft’s current valuation metrics include a Forward P/E ratio of 17.23, cheaper than the industry average of 29.44. With a PEG ratio of 0.43, assessing projected growth, Lyft fares better than the industry average of 1.8. The Internet – Services industry, where Lyft belongs, ranks in the bottom 47% of industries.

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Read more at Nasdaq.: Lyft (LYFT) Sees a More Significant Dip Than Broader Market: Some Facts to Know