In the last trading session, 8.37 million shares of the Lyft Inc (NASDAQ:LYFT) were traded, and its beta was 1.98. Most recently the company’s share price was $19.35, and it changed around -$0.13 or -0.67% from the last close, which brings the market valuation of the company to $7.74B. LYFT currently trades at a discount to its 52-week high of $20.82, offering almost -7.6% off that amount. The share price’s 52-week low was $7.85, which indicates that the current value has risen by an impressive 59.43% since then. We note from Lyft Inc’s average daily trading volume that its 10-day average is 14.16 million shares, with the 3-month average coming to 17.92 million.
Lyft Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.67. If we narrow it down even further, the data shows that 3 out of 44 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 34 recommended LYFT as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Lyft Inc is expected to report earnings per share of $0.02 for the current quarter.
Lyft Inc (NASDAQ:LYFT) trade information
Instantly LYFT has showed a red trend with a performance of -0.67% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 29.09% year-to-date, but still down -4.59% over the last five days. On the other hand, Lyft Inc (NASDAQ:LYFT) is 23.33% up in the 30-day period. We can see from the shorts that 52.74 million shares have been sold at a short interest cover period of 2.36 day(s).
The consensus price target as assigned by Wall Street analysts is $38.78, which translates to bulls needing to increase their stock price by 50.1% from its current value. Analyst projections state that LYFT is forecast to be at a low of $12 and a high of $82.
Lyft Inc (LYFT) estimates and forecasts
Lyft Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 87.50 percent over the past six months and at a -6.15% annual growth rate that is well below the industry average of 19.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -71.40% in revenue this quarter, and will report a decrease of -18.80% in the next quarter. The year-over-year growth rate is expected to be 16.30%, up from the previous year.
Consensus estimates provided by 29 financial analysts predict the company will bring in an average of $1.15 billion in revenue for the current quarter. 28 analysts expect Lyft Inc to make $1.26 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $981.42 million and $1.02 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 17.50%. Forecasts for the next quarter put sales growth at 23.50%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 22.39%. Lyft Inc earnings are expected to increase by -14.09% in 2024, but the outlook is positive 11.20% per year for the next five years.
LYFT Dividends
Lyft Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.
Lyft Inc (NASDAQ:LYFT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 9.40% of Lyft Inc shares, and 77.48% of them are in the hands of institutional investors. The stock currently has a share float of 85.53%. Lyft Inc stock is held by 518 institutions, with FMR, LLC being the largest institutional investor. By Jun 29, 2023, it held 14.65% of the shares, which is about 55.31 million shares worth $530.44 million.
Vanguard Group Inc, with 8.03% or 30.32 million shares worth $290.79 million as of Jun 29, 2023, 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 Jul 30, 2023. The former held 21.77 million shares worth $276.7 million, making up 5.76% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 9.73 million shares worth around $93.26 million, which represents about 2.58% of the total shares outstanding.
