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Friday, November 04, 2022 9:52:19 AM
Earnings Preview: Lyft Inc. (NASDAQ: LYFT)
By: 24/7 Wall St. | November 4, 2022
• Here is a preview of two companies set to report quarterly results later on Monday.
Lyft
Ride-hailing operator Lyft Inc. (NASDAQ: LYFT) got a lift of more than 10% after rival Uber issued strong guidance for the current quarter earlier this week. The gain was pared to around 3.5% by the end of the day, however. On Thursday, the company announced that it would fire about 13% of its total workforce of around 5,000 employees, citing an increased risk of recession and rising insurance costs. Shares have fallen by nearly 9.5% in the past three days.
The 43 analysts covering the stock come down on Lyft’s side, with 24 having a Buy or Strong Buy rating and another 18 rating the shares at Hold. At a share price of around $13.70, the upside potential based on a median price target of $25.00 is 82.5%. At the high target of $65.00, the upside potential is nearly 375%.
Third-quarter revenue is forecast at $1.06 billion, up 7.2% sequentially and by 22.6% year over year. The company is expected to report EPS of $0.08, down nearly 41% sequentially and up three cents year over year. For the full 2022 fiscal year, analysts anticipate EPS of $0.41, solidly better than last year’s loss per share of $0.25, on sales of $4.08 billion, up 27.3%.
Lyft stock trades at 33.2 times expected 2022 EPS, 13.2 times estimated 2023 EPS of $1.03 and 8.4 times estimated 2024 earnings of $1.63 per share. The stock’s 52-week range is $10.82 to $57.68. Lyft does not pay a dividend. Total shareholder return for the past 12 months was negative 72.1%.
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By: 24/7 Wall St. | November 4, 2022
• Here is a preview of two companies set to report quarterly results later on Monday.
Lyft
Ride-hailing operator Lyft Inc. (NASDAQ: LYFT) got a lift of more than 10% after rival Uber issued strong guidance for the current quarter earlier this week. The gain was pared to around 3.5% by the end of the day, however. On Thursday, the company announced that it would fire about 13% of its total workforce of around 5,000 employees, citing an increased risk of recession and rising insurance costs. Shares have fallen by nearly 9.5% in the past three days.
The 43 analysts covering the stock come down on Lyft’s side, with 24 having a Buy or Strong Buy rating and another 18 rating the shares at Hold. At a share price of around $13.70, the upside potential based on a median price target of $25.00 is 82.5%. At the high target of $65.00, the upside potential is nearly 375%.
Third-quarter revenue is forecast at $1.06 billion, up 7.2% sequentially and by 22.6% year over year. The company is expected to report EPS of $0.08, down nearly 41% sequentially and up three cents year over year. For the full 2022 fiscal year, analysts anticipate EPS of $0.41, solidly better than last year’s loss per share of $0.25, on sales of $4.08 billion, up 27.3%.
Lyft stock trades at 33.2 times expected 2022 EPS, 13.2 times estimated 2023 EPS of $1.03 and 8.4 times estimated 2024 earnings of $1.63 per share. The stock’s 52-week range is $10.82 to $57.68. Lyft does not pay a dividend. Total shareholder return for the past 12 months was negative 72.1%.
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DiscoverGold
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