In the latest trading session, 1.57 million Lyft Inc (NASDAQ:LYFT) shares changed hands as the company’s beta touched 2.11. With the company’s most recent per share price at $17.57 changing hands around $0.65 or 3.84% at last look, the market valuation stands at $7.29B. LYFT’s current price is a discount, trading about -18.5% off its 52-week high of $20.82. The share price had its 52-week low at $8.93, which suggests the last value was 49.17% up since then. When we look at Lyft Inc’s average trading volume, we note the 10-day average is 12.25 million shares, with the 3-month average coming to 13.69 million.
Analysts gave the Lyft Inc (LYFT) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.39. If we narrow down to specifics, the data shows that 0 out of 24 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 13 recommended LYFT as a Hold, 11 felt it is a Buy and 0 rated the stock as Underweight. Lyft Inc’s EPS for the current quarter is expected to be -0.01.
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Lyft Inc (NASDAQ:LYFT) trade information
Instantly LYFT is in green as seen in intraday trades today. With action -0.23%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 17.21%, with the 5-day performance at -0.23% in the red. However, in the 30-day time frame, Lyft Inc (NASDAQ:LYFT) is 29.38% up. Looking at the short shares, we see there were 50.47 million shares sold at short interest cover period of 3.12 days.
The consensus price target for the stock as assigned by Wall Street analysts is 17, meaning bulls need a downside of -3.35% from its recent market value. According to analyst projections, LYFT’s forecast low is 10 with 26 as the target high. To hit the forecast high, the stock’s price needs a -47.98% plunge from its current level, while the stock would need to tank 43.08% 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 13.14% over the past 6 months, a 41.54% in annual growth rate that is considerably higher than the industry average of 9.80%. Year-over-year growth is forecast to reach 31.59% up from the last financial year.
Consensus estimates given by 34 financial analysts project the company’s revenue in the current quarter to hit an average of 1.56B. 21 analysts are of the opinion that Lyft Inc’s revenue for the current quarter will be 1.5B. The company’s revenue for the corresponding quarters a year ago was 1.22B and 1.28B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 27.00%. The estimates for the next quarter sales put growth at 17.56%.
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 increase by 28.93%, but the outlook for the next 5-year period is at 20.45% per year.
LYFT Dividends
Lyft Inc is expected to release its next quarterly earnings report in January.
Lyft Inc (NASDAQ:LYFT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.97% of Lyft Inc shares while 79.59% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 87.43%. There are 79.59% institutions holding the Lyft Inc stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 14.7118% of the shares, roughly 59.08 million LYFT shares worth $832.97 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 8.4753% or 34.03 million shares worth $479.86 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Fidelity Blue Chip Growth Fund and Vanguard Total Stock Market Index Fund. With 19.63 shares estimated at $343.09 million under it, the former controlled 4.83% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.57% of the shares, roughly 10.46 shares worth around $182.75 million.
