The stock of Lyft Inc. (NASDAQ:LYFT) increased by $0.09 on Friday to finish at $11.47, up 0.75 percent. The last five days have seen an average of 26,325,594 shares of common stock traded. 21 times new highs were reached in the current year, with a gain of $0.51. The average number of shares traded over the last 20 days was 17,259,094, while the average volume over the last 50 days totaled 15,631,873.
LYFT stock appreciated 1.46% since last month. On 08/10/23, the company’s shares reached a one-month low of $10.33. The stock touched a high of $19.85 on 02/08/23, after rallying from a low of $7.85 in 52 weeks. The price of LYFT stock has risen by 4.04% or $0.51 this year, reaching a new high 21 times. Still, the stock price is down -42.24% from the 52-week high.
Insider Transactions
LYFT stock investors should be aware that Lyft Inc. (LYFT) stock had its last reported insider trading activity 80 days ago on May 26. On May 26, Director Wilderotter Mary Agnes sold 1,827 shares at $8.27 each. This transaction resulted in the insider making $15,106. On May 22, Green Logan sold 21,013 shares at a price of US$8.06. After the transaction, the insider now owns 474,344 shares. Director Wilderotter Mary Agnes had earlier sold 1,826 shares on Feb 27 for $10.16 a share. The transaction was completed for $18,544.
Valuation Metrics
Beta for the stock is 1.79. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.99, the price-to-book (PB) ratio of 11.35.
Financial Health
For the three months ended June 29, Lyft Inc.’s quick ratio was 0.80, while its current ratio was 0.80, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.20, and the total debt to equity ratio is 2.31. As far as profitability goes, gross margin for the trailing twelve months is 30.70% percent. Lyft Inc.’s operating margin stood at -32.90% for the same period. Based on annual data, it had gross profit of $1.66 billion and revenue of $4.1 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. LYFT’s return on assets (ROA) during the last 12 months has been -28.90%. There was a -126.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -272.90%.
Earnings Surprise
According to Lyft Inc.’s quarterly financial report for the quarter that ended June 29, it had $808.06 million in total debt versus $1.06 billion in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.02 billion, while revenues rose by 2.95% to $1.0 billion. It was predicted that Lyft Inc.’s quarterly earnings would be $0.16, but it ended up being -$0.01. EBITDA was -$143.96 million for the quarter. At the end of Lyft Inc.’s most recent quarter ended June 29, its liabilities totaled 4.06 billion, while its total debt was $1000.0 million. Equity owned by shareholders amounts to $386.24 million.
Technical Picture
Here’s a quick look at Lyft Inc.’s (LYFT) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 52.26%, suggesting the stock is Neutral, with a 81.82% historical volatility rate.
The stochastic %K and %D were 40.13% and 29.38% respectively, while the average true range (ATR) was 0.69. Based on the 14-day stochastic reading of 48.95%, the RSI (14) reading is 52.51%. On the 9-day MACD Oscillator, the stock is at 0.10, and the 14-day reading is at -0.29.
Analyst Ratings
In a note to investors, TD Cowen maintained its a Market perform rating on Lyft Inc. (NASDAQ: LYFT). However, the firm raised their price target to $11, indicating a possible decrease of -27.44% in the stock price. Analysts have assigned Lyft Inc. (LYFT) an Hold rating. LYFT is a stock that is recommended for selling by 0 brokerage firms, while 29 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is LYFT’s price target for the next 12 months?
The current consensus forecast for the stock is between $7.60 and $18.00, with a median target price of $11.00. In analyzing these forecasts, the average price target given by analysts for Lyft Inc. (LYFT) is $11.60.
