Lyft Inc (NASDAQ:LYFT) shares, rose in value on Thursday, November 21, with the stock price down by -1.68% to the previous day’s close as strong demand from buyers drove the stock to $16.49.
Actively observing the price movement in the recent trading, the stock is buoying the session at $16.77, falling within a range of $16.455 and $16.805. The value of beta (5-year monthly) is 2.041. Referring to stock’s 52-week performance, its high was $20.82, and the low was $8.93. On the whole, LYFT has fluctuated by 20.71% over the past month.
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With the market capitalization of Lyft Inc currently standing at about $6.84 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.79B, with a low estimate of 1.48B and a high estimate of 1.61B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.56B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that LYFT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of LYFT currently trading nearly 4.21% and 17.21% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.17, while the 7-day volatility ratio is showing 4.02% which for the 30-day chart, stands at 4.42%. Furthermore, Lyft Inc (LYFT)’s beta value is 2.06, and its average true range (ATR) is 0.81.
A comparison of Lyft Inc (LYFT) with its peers suggests the former has fared considerably weaker in the market. LYFT showed an intraday change of -1.68% in today’s session so far, and over the past year, it grew by 58.85%%.
Data on historical trading for Lyft Inc (NASDAQ:LYFT) indicates that the trading volumes over the past 10 days have averaged 23.36 and over the past 3 months, they’ve averaged 13.46 million. According to company’s latest data on outstanding shares, there are 391.24 million shares outstanding.
Nearly 14.73% of Lyft Inc’s shares belong to company insiders and institutional investors own 77.66% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 46.14 million shares as on 2024-10-31, resulting in a short ratio of 4.27. According to the data, the short interest in Lyft Inc (LYFT) stood at 1335.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 50.37 million. The stock has risen by 10.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LYFT stock heading into the next quarter.
