Lyft's Ride Gets Bumpy: Earnings Expected To Fall Short While Market Shifts
Portfolio Pulse from Michael Juliano
Lyft (NASDAQ:LYFT) is expected to miss earnings and gross bookings estimates for Q2, facing challenges from consumer trends and market share. Analysts from KeyBanc and RBC Capital Markets forecast lower-than-expected EBITDA and gross bookings. Uber (NYSE:UBER) reported strong Q2 results, beating revenue and EPS expectations. ETFs tracking Lyft showed mixed performance.
August 06, 2024 | 5:14 pm
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POSITIVE IMPACT
Amplify Travel Tech ETF picked up 2.23%, tracking Lyft's performance.
AWAY's gain is likely influenced by Lyft's stock movement, which saw a 3.03% increase. This suggests a positive short-term impact.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Amplify Online Retail ETF edged up 0.91%, tracking Lyft's performance.
IBUY's gain is likely influenced by Lyft's stock movement, which saw a 3.03% increase. This suggests a positive short-term impact.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Trenchless Fund ETF gained 1.74%, tracking Lyft's performance.
RVER's gain is likely influenced by Lyft's stock movement, which saw a 3.03% increase. This suggests a positive short-term impact.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Uber reported strong Q2 results, beating revenue and EPS expectations.
Uber's strong Q2 performance, beating both revenue and EPS expectations, is likely to positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P Transportation ETF rose 2.23%, tracking Lyft's performance.
XTN's gain is likely influenced by Lyft's stock movement, which saw a 3.03% increase. This suggests a positive short-term impact.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Lyft is expected to miss Q2 earnings and gross bookings estimates, facing challenges from consumer trends and market share.
Analysts from KeyBanc and RBC Capital Markets forecast lower-than-expected EBITDA and gross bookings for Lyft, indicating potential short-term negative impact on stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
ProShares On-Demand ETF slipped 2.83%, despite tracking Lyft.
OND's decline suggests other factors may be influencing its performance, despite Lyft's stock increase.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60