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Lyft Stock Sinks as Chipotle Gains in Post-Market Trade on Fourth-Quarter Earnings

Lyft Stock Sinks as Chipotle Gains in Post-Market Trade on Fourth-Quarter Earnings

Thomas Westwater, Analyst

Lyft, Chipotle, Corporate Earnings, Nasdaq - Talking Points

  • Lyft sinks in after-hours trading after fourth-quarter earnings shows mixed results
  • Fourth-quarter revenues beat at $969.9 million against an expected 940 million
  • Chipotle shares rose in after-hours trade after reporting success in raising menu item prices

LYFT Earnings Report

Lyft reported fourth-quarter corporate earnings results this afternoon, posting earnings per share (EPS) of $0.09 on 969.9 million in revenues. That was above the consensus analysts’ forecast of $0.09 EPS (adjusted basis) on 940.4 million in revenue. Adjusted net income was $32.1 million, below the 33 million street estimate. Lyft continues to rise in after-hours trading, up around 1% in immediate reaction. The implied 1-day move is 19.0%, according to Bloomberg data.

Active rider growth moderated to 18.73 million. That was up nearly 50% y/y from riders gained in Q4’2021 but below the 20 million analysts expected. Revenue per active rider increased 14% on a year-over-year basis to $51.79 per rider vs $46.53 expected. Earlier in the day, Lyft received a price target cut from UBS from $60 to $46, which still gives prices upside from the current share price of around 37.70. Investors will parse through the earnings call to further evaluate the outlook for the rideshare company while keeping an ear to the ground on takeover news.

LYFT - 3-Minute Chart/Daily Chart

lyft stock

Chart created with TradingView

Chipotle Earnings Report

Investors also pushed shares of Chipotle up in after-hours trading after the company’s fourth-quarter results impressed investors. Higher costs were evened out by menu price increases. The company raised prices by around 4% in December. Chipotle’s earnings per share beat at $5.58 on 1.96 billion in revenues. Q4 comp sales grew at 15.2%, above the expected 14.8%.

The burrito chain has had more success raising prices versus other chains like McDonald's, which fell victim to the higher costs for food items. The CEO said menu prices could be boosted further, if necessary. Investors pushed the stock price over 7% higher after the numbers crossed the wires. The 1-day implied move was seen at 12.2%, according to options pricing.

Chipotle - 3-Minute Chart/Daily Chart

chipotle stock

Chart created with TradingView

--- Written by Thomas Westwater, Analyst for DailyFX.com

To contact Thomas, use the comments section below or @FxWestwater on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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