Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Tuesday, February 11, 2020 2:45:44 PM
By: 24/7 Wall St. | February 11, 2020
Lyft Inc. (NASDAQ: LYFT) is scheduled to release its most recent quarterly results after the markets close on Tuesday. For the most part, analysts seem optimistic about ride-sharing in general going into this report, especially after rival ride-sharing company Uber Technologies Inc. (NYSE: UBER) reported stellar results last week.
For the fourth quarter, analysts expect to see a net loss of $1.39 in earnings per share (EPS) and $984.17 million in revenue.
One thing that differentiates Lyft from Uber is that many consider it a pure-play ride-sharing company. Uber offers a food delivery service, Uber Eats, but this has not been profitable, even with a 21% market share in the food delivery industry.
Beginning January 1, a new California law (AB 5) required ride-hailing firms like Lyft and Uber to treat drivers as employees, not independent contractors. The law applies to delivery firms like Postmates, Instacart and DoorDash as well. Not having to pay a minimum wage or overtime, or unemployment insurance or paid sick leave, was a huge benefit for these firms. Drivers also paid their own expenses, including maintenance and fuel.
However, analysts remain upbeat on Lyft’s stock. Wedbush analyst Dan Ives told Barron’s that Lyft faces a headwind of $8 to $10 a share if California’s AB 5 is not revised in favor of the ride-hailers. Even so, the stock remains rated Buy or Strong Buy by 24 of 36 analysts.
Here’s what a few other analysts had to say about Lyft ahead of the report:
• JMP Securities has a Buy rating with an $88 price target.
• Northcoast Research rates it at Buy with a $60 price target.
• RBC’s Buy rating comes with an $82 target price.
• SunTrust Banks has a Buy rating and a $75 price target.
• UBS has a Buy rating with a $64 price target.
Excluding Tuesday’s move, Lyft stock had outperformed the broad markets with a gain of 24% in the past quarter. However, in the past six months, the share price was down 9%.
Shares of Lyft traded at $53.47 on Tuesday, in a 52-week range of $37.07 to $88.60. The consensus price target is $65.63.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent LYFT News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:51:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/16/2024 08:58:30 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/16/2024 08:43:29 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/12/2024 08:38:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/04/2024 11:40:41 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 10:16:33 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/29/2024 08:04:36 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/29/2024 08:03:45 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/27/2024 09:37:06 PM
- Lyft CEO & CFO to Participate in Fireside Chat Hosted by Goldman Sachs • Business Wire • 08/27/2024 08:05:00 PM
- Lyft and Payfare Announce Launch of New Features for the Lyft Direct Debit Card and Banking App • PR Newswire (US) • 08/27/2024 11:00:00 AM
- Lyft and Payfare Announce Launch of New Features for the Lyft Direct Debit Card and Banking App • PR Newswire (Canada) • 08/27/2024 11:00:00 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 12:53:16 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2024 12:01:02 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 11:59:50 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/20/2024 09:13:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:07:54 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/07/2024 08:09:21 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 10:02:25 AM
- Lyft Announces Q2 2024 Results, Including First-Ever Quarter of GAAP Profitability • Business Wire • 08/07/2024 10:00:00 AM
- US Index Futures Rise Amid Earnings Season Optimism, Oil Prices Rebound • IH Market News • 08/07/2024 09:49:12 AM
- Alphabet Unveils AlphaProof and AlphaGeometry 2; OpenAI Tests SearchGPT; Apple Loses Market Share in China • IH Market News • 07/26/2024 10:07:41 AM
- Lyft and Everlance Partner to Provide Tax Savings to Drivers • PR Newswire (US) • 07/25/2024 07:00:00 PM
- Lyft and Payfare Announce Long Term Extension of Lyft Direct Program • PR Newswire (US) • 07/25/2024 11:00:00 AM
- Lyft and Payfare Announce Long Term Extension of Lyft Direct Program • PR Newswire (Canada) • 07/25/2024 11:00:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM