Lyft Inc (NASDAQ:LYFT) price on current trading day, fall -1.51% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $13.70.
A look at the stock’s price movement, the level at last check in today’s session was $13.91, moving within a range at $13.64 and $13.85. The beta value (5-Year monthly) was 2.041. Turning to its 52-week performance, $20.82 and $8.93 were the 52-week high and 52-week low respectively. Overall, LYFT moved -23.42% over the past month.
Lyft Inc’s market cap currently stands at around $5.68 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 1.56B for the company’s revenue for the quarter, with a low and high estimate of 1.48B and 1.61B respectively. The average forecast suggests up to a 27.00% 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 5.79B, representing a 31.59% 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 Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold 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 -10.04% and -10.97% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.41, while 7-day volatility ratio is 4.10% and 4.52% in the 30-day chart. Further, Lyft Inc (LYFT) has a beta value of 2.12, and an average true range (ATR) of 0.67. Analysts have given the company’s stock an average 52-week price target of $16.5, forecast between a low of $10 and high of $26. Looking at the price targets, the low is 27.01% off recent price level in today’s trading while to achieve the yearly target high, it has to move -89.78%. Nonetheless, investors will most likely welcome a -20.44% jump to $16.5 which is the analysts’ median price.
If we refocus on Lyft Inc (NASDAQ:LYFT), historical trading data shows that trading volumes averaged 14.49 over the past 10 days and 14.12 million over the past 3 months. The company’s latest data on shares outstanding shows there are 406.28 million shares.
The 14.39% of Lyft Inc’s shares are in the hands of company insiders while institutional holders own 80.25% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 39.46 million on 2024-11-29, giving us a short ratio of 2.2. The data shows that as of 2024-11-29 short interest in Lyft Inc (LYFT) stood at 1141.0 of shares outstanding, with shares short falling to 46.14 million registered in 2024-10-31. Current price change has pushed the stock -8.61% 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.
