In the latest trading session,, 2.88 million Lyft Inc (NASDAQ:LYFT) shares changed hands as the company’s beta touched 1.97. With the company’s most recent per share price at $19.93 changing hands around $0.41 or 2.10% at last look, the market valuation stands at $7.97B. LYFT’s current price is a discount, trading about -4.47% off its 52-week high of $20.82. The share price had its 52-week low at $7.85, which suggests the last value was 60.61% up since then. When we look at Lyft Inc’s average trading volume, we note the 10-day average is 14.27 million shares, with the 3-month average coming to 17.73 million.
Lyft Inc (NASDAQ:LYFT) trade information
Instantly LYFT is in green as seen in intraday trades today. With action 9.75%, the performance over the past five days has been green. The jump to weekly highs of 20.82 added 2.10% to the stock’s daily price. The company’s shares are showing year-to-date upside of 32.96%, with the 5-day performance at 9.75% in the green. However, in the 30-day time frame, Lyft Inc (NASDAQ:LYFT) is 24.95% up. Looking at the short shares, we see there were 54.07 million shares sold at short interest cover period of 2.09 days.
Lyft Inc (LYFT) estimates and forecasts
Data shows that the Lyft Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 103.78% over the past 6 months, a -6.15% in annual growth rate that is considerably lower than the industry average of 20.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Lyft Inc will fall -71.40%, while the growth in revenue is estimated to hit -18.80% for the next quarter. Year-over-year growth is forecast to reach 16.30% up from the last financial year.
Consensus estimates given by 29 financial analysts project the company’s revenue in the current quarter to hit an average of $1.15 billion. 28 analysts are of the opinion that Lyft Inc’s revenue for the quarter ending Jun 2024 will be $1.26 billion. The company’s revenue for the corresponding quarters a year ago was $981.42 million and $1.02 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.50%. The estimates for the next quarter sales put growth at 23.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 22.39%. The 2024 estimates are for Lyft Inc earnings to decrease by -6.12%, but the outlook for the next 5-year period is at 11.20% per year.
LYFT Dividends
Lyft Inc is expected to release its next quarterly earnings report between May 02 and May 06.
Lyft Inc (NASDAQ:LYFT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.45% of Lyft Inc shares while 77.48% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.57%. There are 77.48% institutions holding the Lyft Inc stock share, with FMR, LLC the top institutional holder. As of Dec 30, 2023, the company held 14.71% of the shares, roughly 57.55 million LYFT shares worth $1.14 billion.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.21% or 32.12 million shares worth $638.48 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Jan 30, 2024 were Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund. With 21.73 million shares estimated at $432.09 million under it, the former controlled 5.56% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.65% of the shares, roughly 10.36 million shares worth around $205.93 million.
