In today’s recent session, 1.86 million shares of the Lyft Inc. (NASDAQ:LYFT) were traded. Most recently the company’s share price was $15.01, and it changed around $0.34 or 2.28% from the last close, which brings the market valuation of the company to $4.76B. LYFT at last check was trading at a discount to its 52-week high of $63.07, offering almost -320.19% off that amount. The share price’s 52-week low was $13.73, which indicates that the recent value has risen by an impressive 8.53% since then. We note from Lyft Inc.’s average daily trading volume that its 10-day average is 11.21 million shares, with the 3-month average coming to 11.70 million.
Lyft Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 1 out of 41 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 15 recommended LYFT as a Hold, whereas 24 deemed it a Buy, and 0 rated it as Underweight. Lyft Inc. is expected to report earnings per share of -$0.03 for the current quarter.
Lyft Inc. (NASDAQ:LYFT) trade information
Instantly LYFT has been showing a green trend so far today with a performance of 2.28% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 15.50 on Tuesday, 06/21/22 increased the stock’s daily price by 3.16%. The company’s shares are currently down -65.67% year-to-date, but still up 2.66% over the last five days. On the other hand, Lyft Inc. (NASDAQ:LYFT) is -23.95% up in the 30-day period. We can see from the shorts that 29.9 million shares have been sold at a short interest cover period of 1.38 day(s).
The consensus price target as assigned by Wall Street analysts is $39.51, which translates to bulls needing to increase their stock price by 62.01% from its current value. Analyst projections state that LYFT is forecast to be at a low of $20.00 and a high of $65.00. In order for the stock price to hit the forecast high, the stock would need to plunge -333.04% from its current level, while the stock would need to crash -33.24% from its current level to reach the projected low.
Lyft Inc. (LYFT) estimates and forecasts
Lyft Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -61.47 percent over the past six months and at a 172.00% annual growth rate that is well above the industry average of 0.70%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 40.00% in revenue this quarter, and will report an increase of 80.00% in the next quarter. The year-over-year growth rate is expected to be 31.50%, up from the previous year.
Consensus estimates provided by 32 financial analysts predict the company will bring in an average of $984.64 million in revenue for the current quarter. 32 analysts expect Lyft Inc. to make $1.13 billion in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $696.86 million and $862.68 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 41.30%. Forecasts for the next quarter put sales growth at 30.50%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -5.80%.
Lyft Inc.’s next quarterly earnings report is expected to be released around August 01 and August 05.
Lyft Inc. (NASDAQ:LYFT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 10.28% of Lyft Inc. shares, and 83.23% of them are in the hands of institutional investors. The stock currently has a share float of 92.77%. Lyft Inc. stock is held by 725 institutions, with FMR, LLC being the largest institutional investor. By Mar 30, 2022, it held 14.99% of the shares, which is about 50.87 million shares worth $1.95 billion.
JP Morgan Chase & Company, with 10.06% or 34.14 million shares worth $1.31 billion as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Apr 29, 2022. The former held 20.95 million shares worth $682.85 million, making up 6.17% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 8.28 million shares worth around $318.03 million, which represents about 2.44% of the total shares outstanding.