Lyft Inc. (NASDAQ: LYFT) stock fell -1.48% on Wednesday to $7.99 against a previous-day closing price of $8.11. With 16.05 million shares changed hands, the volume of the stock remained lighter than its average volume of 20.04 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $8.15 whereas the lowest price it dropped to was $7.85. The 52-week range on LYFT shows that it touched its highest point at $21.52 and its lowest point at $7.97 during that stretch. It currently has a 1-year price target of $12.92. Beta for the stock currently stands at 1.76.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LYFT was down-trending over the past week, with a drop of -4.43%, but this was down by -19.78% over a month. Three-month performance dropped to -24.41% while six-month performance fell -27.69%. The stock lost -60.47% in the past year, while it has lost -27.50% so far this year. A look at the trailing 12-month EPS for LYFT yields -4.37 with Next year EPS estimates of 0.47. For the next quarter, that number is -0.02. This implies an EPS growth rate of -40.80% for this year and 151.34% for next year.
Float and Shares Shorts:
At present, 373.73 million LYFT shares are outstanding with a float of 317.44 million shares on hand for trading. On Apr 27, 2023, short shares totaled 48.8 million, which was 12.91% higher than short shares on Mar 30, 2023. In addition to Mr. Logan D. Green as the firm’s Co-Founder & Chairman, Mr. John David Risher serves as its CEO & Director.
Through their ownership of 82.63% of LYFT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.59% of LYFT, in contrast to 38.18% held by mutual funds. Shares owned by individuals account for 28.58%. As the largest shareholder in LYFT with 13.98% of the stake, Fidelity Management & Research Co holds 51,636,596 shares worth 51,636,596. A second-largest stockholder of LYFT, The Vanguard Group, Inc., holds 30,443,053 shares, controlling over 8.24% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in LYFT, holding 13,195,510 shares or 3.57% stake. With a 5.76% stake in LYFT, the Fidelity Blue Chip Growth Fund is the largest stakeholder. A total of 21,269,563 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.75% of LYFT stock, is the second-largest Mutual Fund holder. It holds 10,175,948 shares valued at 104.3 million. Vanguard Small Cap Index Fund holds 2.30% of the stake in LYFT, owning 8,513,742 shares worth 87.27 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, LYFT reported revenue of $990.75M and operating income of -$373.18M. The EBITDA in the recently reported quarter was -$343.68M and diluted EPS was -$1.08.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LYFT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LYFT analysts setting a high price target of $23.00 and a low target of $7.60, the average target price over the next 12 months is $11.34. Based on these targets, LYFT could surge 187.86% to reach the target high and fall by -4.88% to reach the target low. Reaching the average price target will result in a growth of 41.93% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded LYFT stock several times over the past three months with 7 Buys and 3 Sells. In these transactions, 13,014,614 shares were bought while 21,826 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 13,329,480 while 405,369 shares were sold.