LYFT Inc (LYFT)

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Earnings Preview: Lyft Inc. (NASDAQ: LYFT)
By: 24/7 Wall St. | August 7, 2023

• Here is a look at what analysts expect to hear from these five companies due to report quarterly earnings after Tuesday’s closing bell.

Lyft

Ride-hailing operator Lyft Inc. (NASDAQ: LYFT) has suffered a share price decline of more than 37% over the past year. Rival Uber has meanwhile added nearly 42% to its share price, including a share price drop of nearly 15% last week after reporting quarterly results and noting that Lyft had begun competing effectively on pricing. Lyft’s stock took a 5% hit on its competitor’s report. How Lyft will turn profitable is a question investors will want to hear an answer for Tuesday afternoon.

The 43 analysts covering Lyft have cooled to its prospects, with 11 having a Buy or Strong Buy rating and 31 assigning a Hold rating. At a share price of around $11.00, the stock trades right at its median price target. At the high target of $32.00, the upside potential is 191%.

Second-quarter revenue is forecast at $1.02 billion, up 2.2% sequentially and 2.9% higher year over year. The company is expected to report an adjusted loss of $0.01 per share, compared to EPS of $0.07 in the prior quarter and EPS of $0.13 a year ago. For the full 2023 fiscal year, analysts anticipate EPS of $0.19, solidly better than last year’s loss per share of $1.50, on sales of $4.29 billion, up 4.8%.

Lyft stock trades at 55.9 times expected 2023 EPS, 23.0 times estimated 2024 EPS of $0.47 and 13.5 times estimated 2025 earnings of $0.81 per share. Its 52-week range is $7.85 to $21.52. Lyft does not pay a dividend, and total shareholder return for the past 12 months was negative 37.61%.

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