BTIG Research slashes price target on Lyft Inc. [LYFT] – find out why.

Lyft Inc. [NASDAQ: LYFT] price plunged by -2.35 percent to reach at -$0.21. The company report on February 9, 2023 that Lyft Announces Q4’22 and Fiscal 2022 Results.

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Lyft, Inc. (Nasdaq:LYFT) today announced financial results for the fourth quarter and fiscal year ended December 31, 2022.

“In 2022 we took important steps to strengthen our business and delivered significant value to our customers,” said Logan Green, co-founder and chief executive officer of Lyft. “The better marketplace balance we see today creates significant opportunities for long-term profitable growth. To take advantage of this opportunity we must ensure competitive service levels. Reinforcing our competitive position, servicing more demand and reducing our fixed and variable costs will put us in the best position to deliver strong shareholder returns.”.

A sum of 21382063 shares traded at recent session while its average daily volume was at 18.81M shares. Lyft Inc. shares reached a high of $8.90 and dropped to a low of $8.46 until finishing in the latest session at $8.71.

The one-year LYFT stock forecast points to a potential upside of 44.94. The average equity rating for LYFT stock is currently 2.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $15.82 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 2.80. 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.

BTIG Research have made an estimate for Lyft Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 14, 2023. The new note on the price target was released on February 14, 2023, representing the official price target for Lyft Inc. stock. Previously, the target price had yet another drop from $21.25 to $13, while Wells Fargo kept a Equal Weight rating on LYFT stock. On February 10, 2023, analysts decreased their price target for LYFT shares from 17 to 13.

The Average True Range (ATR) for Lyft Inc. is set at 0.69, with the Price to Sales ratio for LYFT stock in the period of the last 12 months amounting to 0.82. The Price to Book ratio for the last quarter was 8.22, with the Price to Cash per share for the same quarter was set at 4.64.

LYFT Stock Performance Analysis:

Lyft Inc. [LYFT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.93. With this latest performance, LYFT shares dropped by -48.00% in over the last four-week period, additionally sinking by -49.27% over the last 6 months – not to mention a drop of -76.96% 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 28.25, with the RSI for the last a single of trading hit 22.01, and the three-weeks RSI is set at 33.07 for Lyft Inc. [LYFT]. The present Moving Average for the last 50 days of trading for this stock 12.79, while it was recorded at 9.41 for the last single week of trading, and 13.84 for the last 200 days.

Insight into Lyft Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Lyft Inc. [LYFT] shares currently have an operating margin of -35.63 and a Gross Margin at +29.68. Lyft Inc.’s Net Margin is presently recorded at -38.69.

Return on Equity for this stock declined to -183.19, with Return on Assets sitting at -33.96.

Lyft Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Lyft Inc. [LYFT] Insider Position Details

There are presently around $2,639 million, or 83.90% of LYFT stock, in the hands of institutional investors. The top three institutional holders of LYFT stocks are: FMR LLC with ownership of 52,840,060, which is approximately 2.387% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 29,206,946 shares of the stock with an approximate value of $254.39 million in LYFT stocks shares; and BLACKROCK INC., currently with $131.59 million in LYFT stock with ownership of nearly -15.575% of the company’s market capitalization.

Positions in Lyft Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 210 institutional holders increased their position in Lyft Inc. [NASDAQ:LYFT] by around 58,448,926 shares. Additionally, 244 investors decreased positions by around 45,422,765 shares, while 70 investors held positions by with 199,089,659 shares. The mentioned changes placed institutional holdings at 302,961,350 shares, according to the latest SEC report filing. LYFT stock had 90 new institutional investments in for a total of 17,847,667 shares, while 97 institutional investors sold positions of 12,039,282 shares during the same period.


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