Market Analysts see Lyft Inc. [LYFT] gaining to $43. Time to buy?


Lyft Inc. [NASDAQ: LYFT] traded at a high on 03/22/22, posting a 3.80 gain after which it closed the day’ session at $38.25. The company report on March 21, 2022 that Lyft and Payfare Announce New Cash Back Rewards on Fuel Purchases for Drivers to Combat Rising Gas Prices.

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Lyft (NASDAQ: LYFT) and Payfare (TSX: PAY) launched a cash back rewards program on all fuel purchases for U.S. Lyft drivers using a Lyft Direct debit card, powered by Payfare. In immediate response to rising fuel prices, Lyft Direct cardholders will now receive an increase in cash back rewards of 4-5% on every gas purchase until June 30, 2022.

With a Lyft Direct account, Lyft drivers already access free, instant earnings deposits after every ride and rewards on everyday purchases, including 1-2% on all gas purchases. Until the end of June, Lyft Direct cardholders will automatically earn 4% on all gas purchases and an additional 1% at over 19,000 participating gas stations, to help alleviate the recent surge in gas prices.

The results of the trading session contributed to over 4759643 shares changing hands. Over the past one week, the price volatility of Lyft Inc. stands at 4.18% while the volatility over the past one month is 6.01%.

The market cap for LYFT stock reached $13.05 billion, with 342.75 million shares outstanding and 297.93 million shares in the current float. Compared to the average trading volume of 6.82M shares, LYFT reached a trading volume of 4759643 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $56.26 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 2.10. 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.

Deutsche Bank have made an estimate for Lyft Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 11, 2022. While these analysts kept the previous recommendation, Wolfe Research dropped their target price from $46 to $45. The new note on the price target was released on February 09, 2022, representing the official price target for Lyft Inc. stock. Previously, the target price had yet another raise from $46 to $50, while UBS kept a Buy rating on LYFT stock. On February 09, 2022, analysts decreased their price target for LYFT shares from 80 to 54.

The Average True Range (ATR) for Lyft Inc. is set at 2.23, with the Price to Sales ratio for LYFT stock in the period of the last 12 months amounting to 4.07. The Price to Book ratio for the last quarter was 9.40, with the Price to Cash per share for the same quarter was set at 6.61.

How has LYFT stock performed recently?

Lyft Inc. [LYFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.02. With this latest performance, LYFT shares dropped by -7.30% in over the last four-week period, additionally sinking by -29.75% over the last 6 months – not to mention a drop of -37.87% 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 50.69, with the RSI for the last a single of trading hit 53.24, and the three-weeks RSI is set at 49.32 for Lyft Inc. [LYFT]. The present Moving Average for the last 50 days of trading for this stock 38.77, while it was recorded at 37.87 for the last single week of trading, and 47.71 for the last 200 days.

Lyft Inc. [LYFT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Lyft Inc. [LYFT] shares currently have an operating margin of -33.74 and a Gross Margin at +36.05. Lyft Inc.’s Net Margin is presently recorded at -31.46.

Return on Equity for this stock declined to -65.75, with Return on Assets sitting at -21.36.

Lyft Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Insider trade positions for Lyft Inc. [LYFT]

There are presently around $10,261 million, or 82.50% of LYFT stock, in the hands of institutional investors. The top three institutional holders of LYFT stocks are: FMR LLC with ownership of 49,691,620, which is approximately 1.735% of the company’s market cap and around 1.00% of the total institutional ownership; JPMORGAN CHASE & CO, holding 31,019,021 shares of the stock with an approximate value of $1.14 billion in LYFT stocks shares; and VANGUARD GROUP INC, currently with $919.23 million in LYFT stock with ownership of nearly 1.878% of the company’s market capitalization.

Positions in Lyft Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 297 institutional holders increased their position in Lyft Inc. [NASDAQ:LYFT] by around 28,416,131 shares. Additionally, 244 investors decreased positions by around 21,813,138 shares, while 75 investors held positions by with 228,231,371 shares. The mentioned changes placed institutional holdings at 278,460,640 shares, according to the latest SEC report filing. LYFT stock had 93 new institutional investments in for a total of 4,579,372 shares, while 89 institutional investors sold positions of 6,185,790 shares during the same period.