Lyft(US:LYFT) ZACKSยท2024-11-22 18:00Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] Company Summary: Lyft (LYFT) - Lyft currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [3] - Over the past week, Lyft shares increased by 1.91%, while the Zacks Internet - Services industry declined by 1.08% [6] - In the last month, Lyft's stock price rose by 18.22%, significantly outperforming the industry's 2.41% [6] - Over the past quarter, Lyft shares have risen by 41.04%, and over the last year, they are up 58.31%, compared to the S&P 500's increases of 6.16% and 32.62%, respectively [7] - The average 20-day trading volume for Lyft is 18,801,828 shares, indicating a bullish trend as the stock is rising with above-average volume [8] Earnings Outlook - In the past two months, 6 earnings estimates for Lyft have been revised upwards, while none have been revised downwards, increasing the consensus estimate from $0.74 to $0.92 [10] - For the next fiscal year, 4 estimates have moved upwards, while 2 have been revised downwards [10] - These positive earnings revisions contribute to Lyft's strong Momentum Score of A and its status as a 2 (Buy) stock [11]