Lyft Q4 Earnings Preview & Buy Surging Uber Stock Right Now?
On today’s episode of Full Court Finance here at Zacks, we dive into what to expect from Lyft’s LYFT fourth quarter earnings after the closing bell on Tuesday. The episode also breaks down rival Uber’s UBER Q4 results that helped its stock price surge to see if investors should think about buying the ride-sharing firm’s shares.
Uber’s fourth quarter fiscal 2019 results impressed Wall Street last Thursday. The company continues to expand its international reach, grow its food delivery business, and focus on its driverless automotive future. Investors were also happy to see Uber start to focus more heavily on its profitability.
Uber shares struggled in its early days as a public company. But the stock has been on a tear over the last three months after company executives shortened Uber’s profit timeline. Last week, Uber trimmed this timetable once again. “We recognize that the era of growth at all costs is over,” CEO Dara Khosrowshahi said in Q4 prepared remarks.
“In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform.”
Uber’s profit outlook helped Lyft stock climb as well. Both Lyft and Uber are currently Zacks Rank #2 (Buy) stocks. Lyft also rocks an “A” grade for Growth and a “B” for Momentum in our Style Scores system.
Investors should note that Lyft executives upped their full-year guidance last quarter and laid out a similarly sped up profit timetable. Plus, Lyft stock is up now up over 16% in the last month.
The recent climb helps put Lyft stock neck-and-neck with fellow newly public firm SmileDirectClub SDC during the trailing three months and ahead of Peloton PTON, Pinterest PINS, and high-flying giant Apple AAPL.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Click to get this free report
Apple Inc. (AAPL): Free Stock Analysis Report
Pinterest, Inc. (PINS): Free Stock Analysis Report
Uber Technologies, Inc. (UBER): Free Stock Analysis Report
Peloton Interactive, Inc. (PTON): Free Stock Analysis Report
SmileDirectClub, Inc. (SDC): Free Stock Analysis Report
Lyft, Inc. (LYFT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.