Lyft Inc (NASDAQ:LYFT) price on Thursday, October 24, rose 0.88% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.78.
A look at the stock’s price movement, the close in the last trading session was $13.66, moving within a range at $13.27 and $13.81. The beta value (5-Year monthly) was 2.049. Turning to its 52-week performance, $20.82 and $8.85 were the 52-week high and 52-week low respectively. Overall, LYFT moved 3.22% over the past month.
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Lyft Inc’s market cap currently stands at around $5.65 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-06.
Analysts have a consensus estimate of 1.44B for the company’s revenue for the quarter, with a low and high estimate of 1.32B and 1.5B respectively. The average forecast suggests up to a 26.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.6B, representing a 27.30% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that LYFT is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
24 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 13 analyst(s) rate the stock as a Hold, 11 recommend LYFT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
LYFT’s current price about 5.26% and 11.96% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 62.89, while 7-day volatility ratio is 3.34% and 3.65% in the 30-day chart. Further, Lyft Inc (LYFT) has a beta value of 2.05, and an average true range (ATR) of 0.51. Analysts have given the company’s stock an average 52-week price target of $20, forecast between a low of $10 and high of $82. Looking at the price targets, the low is 27.43% off current price level while to achieve the yearly target high, price needs to move -495.07%. Nonetheless, investors will most likely welcome a -45.14% jump to $20 which is the analysts’ median price.
If we refocus on Lyft Inc (NASDAQ:LYFT), historical trading data shows that trading volumes averaged 12.21 over the past 10 days and 13.70 million over the past 3 months. The company’s latest data on shares outstanding shows there are 391.24 million shares.
The 14.76% of Lyft Inc’s shares are in the hands of company insiders while institutional holders own 77.91% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 50.37 million on 2024-09-30, giving us a short ratio of 4.31. The data shows that as of 2024-09-30 short interest in Lyft Inc (LYFT) stood at 1477.0001 of shares outstanding, with shares short rising to 46.75 million registered in 2024-08-30. Current price change has pushed the stock -8.07% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the LYFT stock continues to rise going into the next quarter.
