Lyft Inc (NASDAQ: LYFT) stock jumped 1.73% on Friday to $10.58 against a previous-day closing price of $10.40. With 10.38 million shares changed hands, the volume of the stock remained lighter than its average volume of 12.61 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $10.75 whereas the lowest price it dropped to was $10.27. The 52-week range on LYFT shows that it touched its highest point at $18.36 and its lowest point at $7.85 during that stretch. It currently has a 1-year price target of $11.80. Beta for the stock currently stands at 1.80.
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 up-trending over the past week, with a rise of 3.12%, but this was up by 4.86% over a month. Three-month performance dropped to -4.68% while six-month performance rose 30.46%. The stock lost -11.61% in the past year, while it has lost -3.99% so far this year. A look at the trailing 12-month EPS for LYFT yields -2.42 with Next year EPS estimates of 0.49. For the next quarter, that number is 0.08. This implies an EPS growth rate of 133.31% for this year and -1.08% for next year.
Float and Shares Shorts:
At present, 361.55 million LYFT shares are outstanding with a float of 331.35 million shares on hand for trading. On Oct 30, 2023, short shares totaled 57.58 million, which was 14.65% higher than short shares on Sep 28, 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 78.84% of LYFT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.31% of LYFT, in contrast to 36.70% held by mutual funds. Shares owned by individuals account for 28.57%. As the largest shareholder in LYFT with 14.04% of the stake, Fidelity Management & Research Co holds 53,035,092 shares worth 53,035,092. A second-largest stockholder of LYFT, The Vanguard Group, Inc., holds 30,960,138 shares, controlling over 8.20% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in LYFT, holding 14,231,208 shares or 3.77% stake. With a 5.77% stake in LYFT, the Fidelity Blue Chip Growth Fund is the largest stakeholder. A total of 21,772,043 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.66% of LYFT stock, is the second-largest Mutual Fund holder. It holds 10,036,776 shares valued at 92.04 million. Vanguard Small Cap Index Fund holds 2.19% of the stake in LYFT, owning 8,281,010 shares worth 75.94 million.
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 $18.00 and a low target of $7.00, the average target price over the next 12 months is $11.80. Based on these targets, LYFT could surge 70.13% to reach the target high and fall by -33.84% to reach the target low. Reaching the average price target will result in a growth of 11.53% from current levels.
Summary of Insider Activity:
Insiders traded LYFT stock several times over the past three months with 1 Buys and 8 Sells. In these transactions, 96,900 shares were bought while 101,908 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 15,490,830 while 455,996 shares were sold.