In yesterday’s Wall Street session, Lyft Inc. (NASDAQ:LYFT) shares traded at $11.35, down -5.18% from the previous session.
As of this writing, 42 analysts cover Lyft Inc. (NASDAQ:LYFT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $40.00 and a low of $11.00, we find $20.00. Given the previous closing price of $11.97, this indicates a potential upside of 67.08 percent. LYFT stock price is now -19.05% away from the 50-day moving average and -48.99% away from the 200-day moving average. The market capitalization of the company currently stands at $3.64B.
There are 20 analysts who have given it a hold rating, whereas 20 have given it a buy rating. Brokers who have rated the stock have averaged $21.48 as their price target over the next twelve months.
On November 08, 2022, Evercore ISI Downgraded its previous ‘Outperform’ rating to ‘In-line’ on the stock reducing its target price from $41 to quote $18, while ‘Gordon Haskett’ rates the stock as ‘Buy’.
In other news, Sverchek Kristin, President of Business Affairs sold 18,885 shares of the company’s stock on Aug 10. The stock was sold for $378,663 at an average price of $20.05. Upon completion of the transaction, the President of Business Affairs now directly owns 194,538 shares in the company, valued at $2.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 09, President of Business Affairs Sverchek Kristin sold 13,000 shares of the business’s stock. A total of $246,789 was realized by selling the stock at an average price of $18.98. This leaves the insider owning 70,350 shares of the company worth $0.8 million. Insiders disposed of 443,250 shares of company stock worth roughly $5.03 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LYFT stock. A new stake in Lyft Inc. shares was purchased by MAPLE ROCK CAPITAL PARTNERS INC. during the first quarter worth $50,995,000. SACHEM HEAD CAPITAL MANAGEMENT LP invested $21,281,000 in shares of LYFT during the first quarter. In the first quarter, CAPITAL WORLD INVESTORS acquired a new stake in Lyft Inc. valued at approximately $20,373,000. ANTIPODES PARTNERS LTD acquired a new stake in LYFT for approximately $18,765,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. purchased a new stake in LYFT valued at around $7,471,000 in the second quarter. In total, there are 644 active investors with 80.80% ownership of the company’s stock.
Thursday morning saw Lyft Inc. (NASDAQ: LYFT) opened at $11.71. During the past 12 months, Lyft Inc. has had a low of $10.60 and a high of $51.15. As of last week, the company has a debt-to-equity ratio of 1.15, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for LYFT is $14.02 and a two-hundred day moving average price translates $22.25 for the stock.
The latest earnings results from Lyft Inc. (NASDAQ: LYFT) was released for Jun, 2022. According to the Software – Application Company, earnings per share came in at $0.13, beating analysts’ expectations of -$0.03 by 0.16. This compares to -$2.95 EPS in the same period last year. The net profit margin was -32.90% and return on equity was -120.90% for LYFT. The company reported revenue of $1.05 billion for the quarter, compared to $864.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.91 percent. For the current quarter, analysts expect LYFT to generate $1.06B in revenue.
Lyft Inc.(LYFT) Company Profile
Lyft, Inc. operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips. The company also integrates third-party public transit data into the Lyft app to offer riders various transportation options. In addition, it offers access to autonomous vehicles; centralized tools and enterprise transportation solutions, such as concierge transportation solutions for organizations; Lyft Pink subscription plans; Lyft Pass commuter programs; first-mile and last-mile services; and university safe rides programs. The company was formerly known as Zimride, Inc. and changed its name to Lyft, Inc. in April 2013. Lyft, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.