Lyft Inc. [LYFT] stock Reiterated by TD Cowen analyst, price target now $11

Lyft Inc. [NASDAQ: LYFT] price surged by 4.75 percent to reach at $0.56. The company report on August 16, 2023 at 4:05 PM that Lyft CEO and CFO to Participate in Fireside Chat Hosted by Goldman Sachs.

Lyft, Inc. (Nasdaq: LYFT) announced today that David Risher, chief executive officer, and Erin Brewer, chief financial officer, will participate in a fireside chat at the Goldman Sachs Communacopia and Technology Conference on Tuesday, September 5, 2023 in San Francisco, CA. Mr. Risher and Ms. Brewer are scheduled to appear at 11:30 a.m. Pacific Standard Time.

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

A sum of 16227047 shares traded at recent session while its average daily volume was at 15.57M shares. Lyft Inc. shares reached a high of $12.445 and dropped to a low of $11.90 until finishing in the latest session at $12.34.

The one-year LYFT stock forecast points to a potential upside of 0.4. The average equity rating for LYFT stock is currently 2.70, 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 $12.39 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 2.70. 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.

TD Cowen have made an estimate for Lyft Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on July 19, 2023.

The Average True Range (ATR) for Lyft Inc. is set at 0.58, with the Price to Sales ratio for LYFT stock in the period of the last 12 months amounting to 1.07. The Price to Book ratio for the last quarter was 12.22, with the Price to Cash per share for the same quarter was set at 4.61.

LYFT Stock Performance Analysis:

Lyft Inc. [LYFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.74. With this latest performance, LYFT shares gained by 7.21% in over the last four-week period, additionally plugging by 21.94% over the last 6 months – not to mention a drop of -16.23% 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 61.82, with the RSI for the last a single of trading hit 68.47, and the three-weeks RSI is set at 58.79 for Lyft Inc. [LYFT]. The present Moving Average for the last 50 days of trading for this stock 11.13, while it was recorded at 11.37 for the last single week of trading, and 10.97 for the last 200 days.

Insight into Lyft Inc. Fundamentals:

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] Institutonal Ownership Details

The top three institutional holders of LYFT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in LYFT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in LYFT stock with ownership which is approximately 5.7381%.

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