LYFT Inc (LYFT)

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Earnings Previews: Lyft Inc. (NASDAQ: LYFT)
By: 24/7 Wall St. | May 2, 2022

• Here is a look at three more companies also reporting earnings after markets close on Tuesday.

Lyft

Ride-hailing operator Lyft Inc. (NASDAQ: LYFT) has seen its share price plummet by about 49% over the past 12 months. The stock’s 52-week high was posted early last July. Last week the company restated 2021 financial statements. Instead of an incorrectly stated loss of $1.01 billion ($3.02 per share), the restated loss is $1.06 billion ($3.17 per share). The erroneous data did not affect the financial outlook Lyft gave in February. Shares fell nearly 3% following the Friday report.

The 40 analysts covering the stock come down on Lyft’s side, with 24 having a Buy or Strong Buy rating and another 14 rating the stock at Hold. At a recent price of around $32.60 a share, the upside potential based on a median price target of $55 is 68.7%. At the high target of $78, the upside potential is 139%.
First-quarter revenue is forecast at $845.57 million, which would be down 12.8% sequentially but up almost 39% year over year. The company is expected to report a loss per share of $0.07, sharply better than the loss of $0.35 per share in the year-ago quarter. For the full 2022 fiscal year, analysts are currently estimating EPS of $0.61, solidly better than last year’s loss per share of $0.25, on sales of $4.24 billion, up 32.3%.

Lyft stock trades at 53.5 times expected 2022 EPS, 20.8 times estimated 2023 EPS of $1.57 and 12.0 times estimated 2024 earnings of $2.72 per share. The stock’s 52-week range is $31.52 to $63.07. Lyft does not pay a dividend. Total shareholder return for the past 12 months was negative 42.9%.

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