The most recent trading session ended with Lyft (LYFT) standing at $12.57, reflecting a +1.7% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.9%. Elsewhere, the Dow saw an upswing of 0.81%, while the tech-heavy Nasdaq appreciated by 1.22%.

The ride-hailing company's shares have seen an increase of 9.87% over the last month, surpassing the Computer and Technology sector's gain of 5.76% and the S&P 500's gain of 3.15%.

The investment community will be closely monitoring the performance of Lyft in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.19, reflecting a 20.83% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.42 billion, indicating a 22.56% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $0.76 per share and a revenue of $5.59 billion, demonstrating changes of +16.92% and +26.99%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lyft. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 18.16% higher within the past month. Lyft is currently a Zacks Rank #3 (Hold).

With respect to valuation, Lyft is currently being traded at a Forward P/E ratio of 16.35. This expresses a discount compared to the average Forward P/E of 28.54 of its industry.

Investors should also note that LYFT has a PEG ratio of 0.4 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 1.88.

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow LYFT in the coming trading sessions, be sure to utilize Zacks.com.

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