Lyft has tumbled 16% since its historic stock-market debut. Now it's getting ready to report earnings for the first time as a public company.

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• Lyft on Tuesday afternoon will release its first quarterly earnings report as a public company.
• While analysts are overwhelmingly bullish on the stock, questions linger over the ride-hailing company's path to profitability and the competitive threat from Uber.
• Watch Lyft trade live.

Lyft's moment of truth has arrived.

The first ride-hailing app to hit the public market is scheduled to release its first-quarter earnings after Tuesday's closing bell. The report marks Lyft's first as a public company after debuting in late March.

Since its much-hyped initial public offering, shares have gotten crushed, falling 16% from their $72 IPO price. They are down 31% from their opening trade of $87.24.

"Let's not sugarcoat it, Lyft's stock has been a head-scratching train wreck since the IPO," Wedbush analyst Dan Ives wrote in a report to clients last week.

Ives was among the first to cover Lyft shares, initially awarding it a bullish $80 price target. He has since lowered that to $67 a share.

His peers, however, are overwhelmingly bullish on Lyft. Of analysts polled by Bloomberg, 15 say "buy," eight suggest "hold," and two recommend "sell."

At the heart of Wall Street's concerns is Lyft's uncertain path to profitability - though it's far from alone in the basket of young, unprofitable tech companies in search of growth - as well as what kind of threat Uber could pose once it IPOs later this week.

Among the report's closely watched measures will be gross bookings as a percentage of total revenue, as well as active riders, take rates, and total trips logged.

Read more: Uber and Lyft drivers are planning to strike this week, and it highlights the challenge the 2 ride-hailing giants face as public companies

For the first quarter, analysts are expecting an adjusted loss of $0.99 a share on revenue of $738.5 million, according to data compiled by Bloomberg.

Following Tuesday's report, Lyft's stock may see some outsized volatility as the options market is implying a 12.5% move in either direction, according to the derivative strategy team at Susquehanna.

Bulls will pleased to know that some of the biggest volume late last week involved call-spread buying for the month of May, according to Susquehanna's analysis. That suggests traders are largely expressing optimistic views heading into the results.

Here's where other analysts stand on Lyft ahead of its report: