The stock of Lyft Inc. (NASDAQ:LYFT) increased by $0.06 on Monday to finish at $10.28, up 0.59 percent. The last five days have seen an average of 12,371,220 shares of common stock traded. 21 times new highs were reached in the current year, with a fall of -$0.74. The average number of shares traded over the last 20 days was 17,645,410, while the average volume over the last 50 days totaled 15,946,355.
LYFT stock dropped -17.63% since last month. On 08/25/23, the company’s shares reached a one-month low of $10.14. The stock touched a high of $18.58 on 02/08/23, after rallying from a low of $7.85 in 52 weeks. The price of LYFT stock has declined by -6.72% or -$0.74 this year, reaching a new high 21 times. Still, the stock price is down -44.66% 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 8 days ago on Aug 21. On Aug 21, Director Zimmer John Patrick sold 20,919 shares at $10.88 each. This transaction resulted in the insider making $227,672. On Aug 21, Green Logan sold 18,157 shares at a price of US$10.89. After the transaction, the insider now owns 480,832 shares. Chief Executive Officer Risher John David had earlier bought 100,000 shares on Aug 11 for $11.46 a share. The transaction was completed for $1,146,300.
Valuation Metrics
Beta for the stock is 1.81. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.97, the price-to-book (PB) ratio of 10.18.
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 EBITDA margin for the year ended June 29 was -31.85%, whereas its 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. 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 $1.09 billion. 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 28 August, the RSI 9-day stood at 35.18%, suggesting the stock is Neutral, with a 29.25% historical volatility rate.
The stochastic %K and %D were 6.91% and 11.63% respectively, while the average true range (ATR) was 0.52. Based on the 14-day stochastic reading of 5.92%, the RSI (14) reading is 40.85%. On the 9-day MACD Oscillator, the stock is at -0.45, and the 14-day reading is at -0.63.
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 -14.22% 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 31 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 $9.00 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 $11.79.
