For Lyft Inc. [LYFT], Analyst sees a drop to $67. What next?


Lyft Inc. [NASDAQ: LYFT] gained 0.81% or 0.36 points to close at $44.95 with a heavy trading volume of 5606602 shares. The company report on December 31, 2021 that Vita Coco and Lyft Team Up to Keep Consumers Hydrated and Riding Responsibly this New Year’s Eve.

Vita Coco Launching Hangover Subscription and Hangover Shop in Early 2022.

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Leading coconut water brand Vita Coco is bringing convenience and recovery straight to consumers this New Year’s Eve by partnering with Lyft to offer discounts on rides home and hydrating coconut water, perfect after a night out.

It opened the trading session at $44.66, the shares rose to $45.275 and dropped to $43.69, the range by which the price of stock traded the whole day. The daily chart for LYFT points out that the company has recorded -23.49% loss over the past six months. However, it is still -24.0% lower than its most recent low trading price.

If we look at the average trading volume of 5.89M shares, LYFT reached to a volume of 5606602 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 $67.89 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.

JP Morgan have made an estimate for Lyft Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 15, 2021. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on December 02, 2021, representing the official price target for Lyft Inc. stock. Previously, the target price had yet another raise to $60, while Daiwa Securities analysts kept a Buy rating on LYFT stock.

The Average True Range (ATR) for Lyft Inc. is set at 2.16, with the Price to Sales ratio for LYFT stock in the period of the last 12 months amounting to 5.55. The Price to Book ratio for the last quarter was 10.24, with the Price to Cash per share for the same quarter was set at 6.87.

Trading performance analysis for LYFT stock

Lyft Inc. [LYFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.29. With this latest performance, LYFT shares gained by 13.88% in over the last four-week period, additionally sinking by -23.49% over the last 6 months – not to mention a drop of -7.98% 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 57.29, with the RSI for the last a single of trading hit 64.92, and the three-weeks RSI is set at 52.73 for Lyft Inc. [LYFT]. The present Moving Average for the last 50 days of trading for this stock 44.99, while it was recorded at 43.80 for the last single week of trading, and 52.71 for the last 200 days.

Lyft Inc. [LYFT]: A deeper dive into fundamental analysis

Lyft Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

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An analysis of insider ownership at Lyft Inc. [LYFT]

There are presently around $12,009 million, or 82.30% of LYFT stock, in the hands of institutional investors. The top three institutional holders of LYFT stocks are: FMR LLC with ownership of 48,844,349, which is approximately 1.846% of the company’s market cap and around 0.90% of the total institutional ownership; JPMORGAN CHASE & CO, holding 25,587,270 shares of the stock with an approximate value of $1.14 billion in LYFT stocks shares; and VANGUARD GROUP INC, currently with $1.09 billion in LYFT stock with ownership of nearly 8.212% of the company’s market capitalization.

268 institutional holders increased their position in Lyft Inc. [NASDAQ:LYFT] by around 20,066,450 shares. Additionally, 218 investors decreased positions by around 29,704,152 shares, while 104 investors held positions by with 219,542,768 shares. The mentioned changes placed institutional holdings at 269,313,370 shares, according to the latest SEC report filing. LYFT stock had 65 new institutional investments in for a total of 2,857,678 shares, while 69 institutional investors sold positions of 8,818,399 shares during the same period.