Why Lyft Inc. (LYFT) Stock Could See Much Higher Prices Ahead

Lyft Inc. (NASDAQ: LYFT) is -31.59% lower on its value in year-to-date trading and has touched a low of $14.56 and a high of $54.50 in the current 52-week trading range. The LYFT stock was last observed hovering at around $29.67 in the last trading session, with the day’s loss setting it -0.24% off its average median price target of $40.00 for the next 12 months. It is also 55.41% off the consensus price target high of $66.00 offered by 41 analysts, but current levels are -194.3% lower than the price target low of $10.00 for the same period.

Currently trading at $29.43, the stock is -0.76% and -3.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.6 million and changing -0.81% at the moment leaves the stock -18.51% off its SMA200. LYFT registered -35.20% loss for a year compared to 6-month loss of -26.92%. The firm has a 50-day simple moving average (SMA 50) of $29.73 and a 200-day simple moving average (SMA200) of $31.34.

The stock witnessed a 1.17% gain in the last 1 month and extending the period to 3 months gives it a -14.55%, and is 1.45% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.57% over the week and 5.08% over the month.

Lyft Inc. (LYFT) has around 5683 employees, a market worth around $8.87B and $3.27B in sales. Profit margin for the company is -50.60%. Distance from 52-week low is 102.11% and -46.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-94.80%).

Lyft Inc. (LYFT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Lyft Inc. (LYFT) is a “Overweight”. 41 analysts offering their recommendations for the stock have an average rating of 2.20, where 14 rate it as a Hold and 1 think it is a “Overweight”. 24 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Lyft Inc. is expected to release its quarterly report on 10/28/2020 and quarterly earnings per share for the current quarter are estimated at -$0.92 with sales reaching $506.49M over the same period.The EPS is expected to shrink by -258.80% this year, but quarterly earnings will post -31.10% year-over-year.

Lyft Inc. (LYFT) Top Institutional Holders

476 institutions hold shares in Lyft Inc. (LYFT), with 82.85M shares held by insiders accounting for 26.55% while institutional investors hold 83.41% of the company’s shares. The shares outstanding are 309.21M, and float is at 243.73M with Short Float at 9.77%. Institutions hold 61.26% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 44.48 million shares valued at $1.47 billion. The investor’s holdings represent 14.67% of the LYFT Shares outstanding. As of Jun 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 18.66 million shares valued at $615.92 million to account for 6.15% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 17.79 million shares representing 5.86% and valued at over $587.14 million, while Baillie Gifford and Company holds 3.63% of the shares totaling 10.99 million with a market value of $362.92 million.

Lyft Inc. (LYFT) Insider Activity

A total of 28 insider transactions have happened at Lyft Inc. (LYFT) in the last six months, with sales accounting for 16 and purchases happening 12 times. The most recent transaction is an insider sale by Sverchek Kristin, the company’s General Counsel and Secretary. SEC filings show that Sverchek Kristin sold 10,000 shares of the company’s common stock on Aug 28 at a price of $30.01 per share for a total of $0.3 million. Following the sale, the insider now owns 0.2 million shares.

Lyft Inc. disclosed in a document filed with the SEC on Aug 26 that Sverchek Kristin (General Counsel and Secretary) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Aug 26 and was made at $29.37 per share for $0.29 million. Following the transaction, the insider now directly holds 0.2 million shares of the LYFT stock.

Still, SEC filings show that on Aug 20, Wilderotter Mary Agnes (Director) disposed off 122 shares at an average price of $27.04 for $3299.0. The insider now directly holds 22,044 shares of Lyft Inc. (LYFT).