RBC Capital Mkts slashes price target on Lyft Inc. [LYFT] – find out why.

Lyft Inc. [NASDAQ: LYFT] plunged by -$1.24 during the normal trading session on Wednesday and reaching a high of $57.73 during the day while it closed the day at $55.83. The company report on May 11, 2021 that Lyft President and Co-Founder to Participate as a Keynote Speaker at the J.P. Morgan Global Technology, Media and Communications Conference.

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Lyft, Inc. (Nasdaq: LYFT) announced that John Zimmer, President and Co-Founder, will participate as a keynote speaker at the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on Monday, May 24, 2021. Mr. Zimmer is scheduled to appear at 2:55 p.m. PST (5:55 p.m. EST).

A live webcast of the event will be available on the investor relations section of the Lyft website at http://investor.Lyft.com.

Lyft Inc. stock has also loss -4.97% of its value over the past 7 days. However, LYFT stock has declined by -11.10% in the 3 months of the year. Over the past six months meanwhile, it has gained 10.16% and gained 13.64% year-on date.

The market cap for LYFT stock reached $17.93 billion, with 326.17 million shares outstanding and 277.80 million shares in the current float. Compared to the average trading volume of 6.75M shares, LYFT reached a trading volume of 4078222 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $69.08 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 2.20. 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.

RBC Capital Mkts have made an estimate for Lyft Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 27, 2021. While these analysts kept the previous recommendation, Daiwa Securities dropped their target price from $59 to $56. The new note on the price target was released on May 10, 2021, representing the official price target for Lyft Inc. stock.

The Average True Range (ATR) for Lyft Inc. is set at 2.13, with the Price to Sales ratio for LYFT stock in the period of the last 12 months amounting to 8.88. The Price to Book ratio for the last quarter was 12.92, with the Price to Cash per share for the same quarter was set at 6.97.

LYFT stock trade performance evaluation

Lyft Inc. [LYFT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.97. With this latest performance, LYFT shares dropped by -4.42% in over the last four-week period, additionally plugging by 10.16% over the last 6 months – not to mention a rise of 99.96% 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 41.59, with the RSI for the last a single of trading hit 35.27, and the three-weeks RSI is set at 44.91 for Lyft Inc. [LYFT]. The present Moving Average for the last 50 days of trading for this stock 56.03, while it was recorded at 57.92 for the last single week of trading, and 49.87 for the last 200 days.

Lyft Inc. [LYFT]: An insightful look at the core fundamentals

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 1.20 and a Current Ratio set at 1.20.

Lyft Inc. [LYFT]: Insider Ownership positions

There are presently around $15,096 million, or 85.30% of LYFT stock, in the hands of institutional investors. The top three institutional holders of LYFT stocks are: FMR LLC with ownership of 47,541,578, which is approximately 2.965% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 21,982,940 shares of the stock with an approximate value of $1.23 billion in LYFT stocks shares; and JPMORGAN CHASE & CO, currently with $1.14 billion in LYFT stock with ownership of nearly 11.609% of the company’s market capitalization.

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Positions in Lyft Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 290 institutional holders increased their position in Lyft Inc. [NASDAQ:LYFT] by around 45,281,334 shares. Additionally, 203 investors decreased positions by around 38,116,016 shares, while 75 investors held positions by with 186,986,720 shares. The mentioned changes placed institutional holdings at 270,384,070 shares, according to the latest SEC report filing. LYFT stock had 114 new institutional investments in for a total of 21,254,106 shares, while 55 institutional investors sold positions of 11,384,716 shares during the same period.

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