Lyft Inc (NASDAQ:LYFT) has a beta value of 1.95 and has seen 2.4 million shares traded in the recent trading session. The company, currently valued at $6.99B, closed the recent trade at $17.49 per share which meant it gained $0.26 on the day or 1.51% during that session. The LYFT stock price is -11.03% off its 52-week high price of $19.42 and 55.12% above the 52-week low of $7.85. If we look at the company’s 10-day average daily trading volume, we find that it stood at 15.62 million shares traded. The 3-month trading volume is 17.86 million shares.
Lyft Inc (NASDAQ:LYFT) trade information
Sporting 1.51% in the green today, the stock has traded in the red over the last five days, when the LYFT stock price touched $17.49 or saw a rise of 7.41%. Year-to-date, Lyft Inc shares have moved 16.68%, while the 5-day performance has seen it change -1.74%. Over the past 30 days, the shares of Lyft Inc (NASDAQ:LYFT) have changed -8.09%. Short interest in the company has seen 54.07 million shares shorted with days to cover at 2.09.
Lyft Inc (LYFT) estimates and forecasts
Figures show that Lyft Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 55.05% over the past 6 months, with this year growth rate of -7.69%, compared to 26.40% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -71.40% and -12.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 16.30%.
28 analysts offering their estimates for the company have set an average revenue estimate of $1.15 billion for the current quarter. 27 have an estimated revenue figure of $1.26 billion for the next quarter concluding in Jun 2024. Year-ago sales stood $981.42 million and $1.02 billion respectively for this quarter and the next, and analysts expect sales will grow by 17.40% for the current quarter and 23.70% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 22.39% over the past 5 years. Earnings growth for 2024 is a modest -6.12% while over the next 5 years, the company’s earnings are expected to increase by 11.20%.
LYFT Dividends
Lyft Inc is expected to release its next earnings report between May 02 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Lyft Inc (NASDAQ:LYFT)’s Major holders
Insiders own 9.45% of the company shares, while shares held by institutions stand at 77.49% with a share float percentage of 85.58%. Investors are also buoyed by the number of investors in a company, with Lyft Inc having a total of 517 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 55.31 million shares worth more than $530.44 million. As of Jun 29, 2023, FMR, LLC held 14.65% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 30.32 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $290.79 million and represent 8.03% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund. As of Jul 30, 2023, the former fund manager holds about 5.76% shares in the company for having 21.77 million shares of worth $276.7 million while later fund manager owns 9.73 million shares of worth $93.26 million as of Jun 29, 2023, which makes it owner of about 2.58% of company’s outstanding stock.
