In the last trading session, 26.7 million Lyft Inc (NASDAQ:LYFT) shares changed hands as the company’s beta touched 1.81. With the company’s per share price at $10.39 changed hands at -$0.19 or -1.80% during last session, the market valuation stood at $4.08B. LYFT’s last price was a discount, traded about -76.71% off its 52-week high of $18.36. The share price had its 52-week low at $7.85, which suggests the last value was 24.45% up since then. When we look at Lyft Inc’s average trading volume, we note the 10-day average is 17.85 million shares, with the 3-month average coming to 12.62 million.
Analysts gave the Lyft Inc (LYFT) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.79. If we narrow down to specifics, the data shows that 1 out of 42 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 34 recommended LYFT as a Hold, 6 felt it is a Buy and 1 rated the stock as Underweight. Lyft Inc’s EPS for the current quarter is expected to be $0.08.
Lyft Inc (NASDAQ:LYFT) trade information
Instantly LYFT was in red as seen at the end of in last trading. With action 6.35%, the performance over the past five days has been green. The drop to weekly highs of 11.09 on Monday, 11/20/23 subtracted -1.80% to the stock’s daily price. The company’s shares are showing year-to-date downside of -5.72%, with the 5-day performance at 6.35% in the green. However, in the 30-day time frame, Lyft Inc (NASDAQ:LYFT) is 2.87% up. Looking at the short shares, we see there were 57.58 million shares sold at short interest cover period of 5.46 days.
The consensus price target for the stock as assigned by Wall Street analysts is $11.80, meaning bulls need an upside of 11.95% from its current market value. According to analyst projections, LYFT’s forecast low is $7.00 with $18.00 as the target high. To hit the forecast high, the stock’s price needs a -73.24% plunge from its current level, while the stock would need to tank 32.63% for it to hit the projected low.
Lyft Inc (LYFT) estimates and forecasts
Data shows that the Lyft Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 28.27% over the past 6 months, a 127.33% in annual growth rate that is considerably higher than the industry average of 21.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Lyft Inc will fall -72.40%. Year-over-year growth is forecast to reach 7.30% up from the last financial year.
Consensus estimates given by 28 financial analysts project the company’s revenue in the current quarter to hit an average of $1.22 billion. 21 analysts are of the opinion that Lyft Inc’s revenue for the quarter ending Mar 2024 will be $1.11 billion. The company’s revenue for the corresponding quarters a year ago was $1.18 billion and $981.42 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 3.80%. The estimates for the next quarter sales put growth at 12.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -13.53%. The 2023 estimates are for Lyft Inc earnings to increase by 133.31%.
Lyft Inc is expected to release its next quarterly earnings report between February 07 and February 12.
Lyft Inc (NASDAQ:LYFT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.59% of Lyft Inc shares while 78.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 87.20%. There are 78.84% institutions holding the Lyft Inc stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 14.65% of the shares, roughly 55.31 million LYFT shares worth $530.44 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.03% or 30.32 million shares worth $290.79 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund. With 21.77 million shares estimated at $276.7 million under it, the former controlled 5.76% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.58% of the shares, roughly 9.73 million shares worth around $93.26 million.