Despite Lyft Inc [LYFT]’s great opportunity, the stock is a bit overvalued

In yesterday’s Wall Street session, Lyft Inc (NASDAQ:LYFT) shares traded at $9.77, down -4.78% from the previous session.

43 analysts cover Lyft Inc (NASDAQ:LYFT), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $7.00, we find $11.40. Given the previous closing price of $10.26, this indicates a potential upside of 11.11 percent. LYFT stock price is now -7.01% away from the 50-day moving average and -7.83% away from the 200-day moving average. The market capitalization of the company currently stands at $3.77B.

The stock has received a hold rating from 34 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $11.81 as their price target over the next twelve months.

With the price target maintained at $7, MoffettNathanson recently Downgraded its rating from Market Perform to Sell for Lyft Inc (NASDAQ: LYFT).

In other news, Zimmer John Patrick, Director sold 14,952 shares of the company’s stock on Sep 15. The stock was sold for $168,742 at an average price of $11.29. Upon completion of the transaction, the Director now directly owns 1,422,952 shares in the company, valued at $13.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 30, Director Green Logan sold 7,862 shares of the business’s stock. A total of $89,903 was realized by selling the stock at an average price of $11.44. This leaves the insider owning 472,970 shares of the company worth $4.62 million. Insiders disposed of 455,996 shares of company stock worth roughly $4.46 million over the past 1 year. A total of 16.52% of the company’s stock is owned by insiders.

On Monday morning Lyft Inc (NASDAQ: LYFT) stock kicked off with the opening price of $10.13. During the past 12 months, Lyft Inc has had a low of $7.85 and a high of $18.36. As of last week, the company has a debt-to-equity ratio of 2.39, a current ratio of 0.85, and a quick ratio of 0.85. The fifty day moving average price for LYFT is $10.51 and a two-hundred day moving average price translates $10.60 for the stock.

The latest earnings results from Lyft Inc (NASDAQ: LYFT) was released for Sep, 2023. According to the Software – Application Company, earnings per share came in at $0.24, beating analysts’ expectations of $0.13 by 0.11. This compares to -$1.18 EPS in the same period last year. The net profit margin was -20.72% and return on equity was -146.23% for LYFT. The company reported revenue of $1.16 billion for the quarter, compared to $1.05 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.84 percent. For the current quarter, analysts expect LYFT to generate $1.21B 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.