Lyft Inc. [NASDAQ: LYFT] gained 2.55% or 1.42 points to close at $57.08 with a heavy trading volume of 6538033 shares. The company report on April 27, 2021 that Woven Planet, a subsidiary of Toyota, to acquire Lyft’s self-driving car division.
$550 Million Deal Unites Talent, Technology and Geographies to Propel the Industry Forward.
Lyft, Inc. (LYFT) announced that the company has signed an agreement with Woven Planet Holdings, Inc., (“Woven Planet”), a subsidiary of Toyota Motor Corporation, for the acquisition of Lyft’s self-driving vehicle division, Level 5. The transaction also includes multi-year non-exclusive commercial agreements between Lyft and Woven Planet to accelerate the development and enhance the safety of automated driving technology.
It opened the trading session at $56.30, the shares rose to $57.35 and dropped to $56.03, the range by which the price of stock traded the whole day. The daily chart for LYFT points out that the company has recorded 148.93% gains over the past six months. However, it is still -167.48% lower than its most recent low trading price.
If we look at the average trading volume of 7.20M shares, LYFT reached to a volume of 6538033 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Lyft Inc. [LYFT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LYFT shares is $67.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LYFT stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for Lyft Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 27, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on April 06, 2021, representing the official price target for Lyft Inc. stock. Previously, the target price had yet another raise to $54, while Wolfe Research analysts kept a Peer Perform rating on LYFT stock.
The Average True Range (ATR) for Lyft Inc. is set at 2.97, with the Price to Sales ratio for LYFT stock in the period of the last 12 months amounting to 8.16. The Price to Book ratio for the last quarter was 10.91, with the Price to Cash per share for the same quarter was set at 6.66.
Trading performance analysis for LYFT stock
Lyft Inc. [LYFT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.48. With this latest performance, LYFT shares dropped by -11.70% in over the last four-week period, additionally plugging by 148.93% over the last 6 months – not to mention a rise of 92.81% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LYFT stock in for the last two-week period is set at 39.89, with the RSI for the last a single of trading hit 36.23, and the three-weeks RSI is set at 43.37 for Lyft Inc. [LYFT]. The present Moving Average for the last 50 days of trading for this stock 61.93, while it was recorded at 59.08 for the last single week of trading, and 43.28 for the last 200 days.
Lyft Inc. [LYFT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Lyft Inc. [LYFT] shares currently have an operating margin of -77.03 and a Gross Margin at +19.83. Lyft Inc.’s Net Margin is presently recorded at -74.13.
Return on Total Capital for LYFT is now -60.43, given the latest momentum, and Return on Invested Capital for the company is -60.14. Return on Equity for this stock declined to -77.38, with Return on Assets sitting at -33.81. When it comes to the capital structure of this company, Lyft Inc. [LYFT] has a Total Debt to Total Equity ratio set at 61.00. Additionally, LYFT Total Debt to Total Capital is recorded at 37.89, with Total Debt to Total Assets ending up at 21.85. Long-Term Debt to Equity for the company is recorded at 54.69, with the Long-Term Debt to Total Capital now at 33.97.
Reflecting on the efficiency of the workforce at the company, Lyft Inc. [LYFT] managed to generate an average of -$374,943 per employee.Lyft Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.
Lyft Inc. [LYFT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Lyft Inc. posted -0.32/share EPS, while the average EPS was predicted by analysts to be reported at -0.63/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 49.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LYFT.
An analysis of insider ownership at Lyft Inc. [LYFT]
There are presently around $14,718 million, or 81.10% of LYFT stock, in the hands of institutional investors. The top three institutional holders of LYFT stocks are: FMR LLC with ownership of 46,172,562, which is approximately 10.972% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 21,162,394 shares of the stock with an approximate value of $1.18 billion in LYFT stocks shares; and JPMORGAN CHASE & CO, currently with $1.02 billion in LYFT stock with ownership of nearly -18.934% of the company’s market capitalization.
Positions in Lyft Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 283 institutional holders increased their position in Lyft Inc. [NASDAQ:LYFT] by around 63,209,153 shares. Additionally, 156 investors decreased positions by around 29,459,421 shares, while 76 investors held positions by with 171,757,254 shares. The mentioned changes placed institutional holdings at 264,425,828 shares, according to the latest SEC report filing. LYFT stock had 137 new institutional investments in for a total of 20,634,642 shares, while 47 institutional investors sold positions of 6,691,445 shares during the same period.