NASDAQ:LYFT

Lyft - LYFT Stock Forecast, Price & News

$9.87

+0.04 (+0.41%)

(As of 03/24/2023 05:06 PM ET)

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Today's Range: $9.72
▼
$10.03
50-Day Range: $8.46
▼
$17.93
52-Week Range: $8.19
▼
$40.46

Volume: 12.97 million shs
Average Volume: 20.57 million shs
Market Capitalization: $3.73 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $17.57

Institutional Ownership

Lyft MarketRank™ Forecast

Analyst Rating: Hold
2.14 Rating Score
Upside/Downside: 78.4% Upside
$17.57 Price Target
Short Interest: Bearish
16.36% of Float Sold Short
Dividend Strength: N/A
Sustainability: -0.37
Upright™ Environmental Score
News Sentiment: -0.19
Based on 2 Articles This Week
Insider Trading: Selling Shares
$48,955 Sold Last Quarter
Proj. Earnings Growth: Growing
From ($1.35) to ($0.31) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.23 out of 5 stars

Computer And Technology Sector

286th out of 604 stocks

Business Services, Not Elsewhere Classified Industry

41st out of 90 stocks

4.1

Analyst's Opinion

Consensus Rating
Lyft has received a consensus rating of Hold. The company's average rating score is 2.14, and is based on 6 buy ratings, 28 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $17.57, Lyft has a forecasted upside of 78.4% from its current price of $9.85.
Amount of Analyst Coverage
Lyft has been the subject of 24 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.0

Short Interest

Percentage of Shares Shorted
16.36% of the float of Lyft has been sold short.
Short Interest Ratio / Days to Cover
Lyft has a short interest ratio ("days to cover") of 2.8, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Lyft has recently increased by 1.50%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Lyft does not currently pay a dividend.
Dividend Growth
Lyft does not have a long track record of dividend growth.

3.4

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Lyft has received a 37.57% net impact score from Upright. Lyft seems to create the most significant positive value in categories "Taxes", "Societal infrastructure", and "GHG emissions". The positive contribution in the "Societal infrastructure" impact category is mostly driven by its "Peer-to-peer ride-sharing services", "Electric bicycle-sharing services", and "Transport planning software" products. See details.
Environmental Sustainability
The Environmental Impact score for Lyft is -0.37.

1.0

News and Social Media Coverage

News Sentiment
Lyft has a news sentiment score of -0.19. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.36 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Lyft this week, compared to 13 articles on an average week.
Social Mentions This Week
MarketBeat has tracked 2 reddit mentions for Lyft this week, compared to 3 mentions on an average week.
Search Interest
Only 115 people have searched for LYFT on MarketBeat in the last 30 days. This is a decrease of -44% compared to the previous 30 days.
MarketBeat Follows
Only 32 people have added Lyft to their MarketBeat watchlist in the last 30 days. This is a decrease of -68% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Lyft insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $48,955.00 in company stock.
Percentage Held by Insiders
Only 3.31% of the stock of Lyft is held by insiders.
Percentage Held by Institutions
79.44% of the stock of Lyft is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Lyft are expected to grow in the coming year, from ($1.35) to ($0.31) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Lyft is -2.21, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Lyft is -2.21, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Lyft has a P/B Ratio of 9.38. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Lyft (NASDAQ:LYFT) Stock

Lyft Inc. is a ridesharing company that provides transportation services to consumers through its mobile app. The company was founded in 2012 by Logan Green and John Zimmer and is headquartered in San Francisco, California. Lyft is a peer-to-peer transportation platform that connects drivers with passengers who need a ride. The company operates in over 600 cities across the United States and Canada and has facilitated over 1 billion rides since its inception. Lyft's mission is to improve people's lives through the world's best transportation.

Lyft's management team is led by co-founders Logan Green and John Zimmer. Green serves as the CEO, while Zimmer is the President. Other key management team members include Elaine Paul, the Chief Financial Officer and Ashwin Raj, the Head of Ride Share.

Lyft's financial performance has been impacted by the COVID-19 pandemic, with revenue declining significantly in 2020. In 2019, the company reported revenue of $3.6 billion, an increase of 68% from the previous year. However, in 2020, revenue declined to $2.4 billion, a decrease of 34%. Despite the challenging year, Lyft has a strong balance sheet, with cash and marketable securities available to help carry it through the rebound from COVID-19.

Lyft's valuation metrics have been impacted by the pandemic and the company's financial performance. However, Lyft's price-to-earnings ratio has maintained the pace or slightly exceeded the industry averages. Lyft's stock price has been volatile recently, with significant fluctuations based on investor sentiment and news events.

The ridesharing industry is highly competitive, with Lyft's primary competitor being Uber. Both companies have faced regulatory challenges in the United States and abroad, and the industry is subject to ongoing changes in laws and regulations. The industry is also impacted by changes in consumer preferences and technological advancements. Electric and autonomous vehicles could disrupt the industry in the coming years, and Lyft has made significant investments in these areas.

Lyft has several growth opportunities, including expanding into new markets and launching new products and services. The company has launched a subscription service called Lyft Pink, which offers perks and discounts to frequent riders. Lyft is also investing in electric and autonomous vehicles, which could provide a significant growth opportunity in the coming years. The company has partnered with self-driving car technology companies and plans to launch a commercial autonomous ride-hailing service.

Lyft faces several risks and challenges, including the ongoing impact of the COVID-19 pandemic on its business. The company also faces intense competition from Uber and other ride-hailing companies. Additionally, regulatory changes could impact the company's ability to operate in specific markets, and changes in consumer preferences could affect the company's market share. Insurance and fuel costs also present a significant challenge to the ridesharing industry, which could impact Lyft's profitability.

Lyft's investments in autonomous vehicle technology carry significant risk. The development and implementation of self-driving cars are expensive, and there is no guarantee that they will be successful. The company's efforts in this area also face significant regulatory hurdles, and Lyft must comply with various laws and regulations to launch a commercial autonomous ride-hailing service. Finally, the company's high operating costs, including driver compensation and marketing expenses, present a challenge to the company's profitability.

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LYFT Stock News Headlines

March 13, 2023 | marketbeat.com

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March 20, 2023 | finance.yahoo.com

Uber, Lyft trade group asks Biden's labor nominee to explain position on gig workers

March 17, 2023 | americanbankingnews.com

Lyft (NASDAQ:LYFT) Shares Up 2.9% Following Analyst Upgrade

March 15, 2023 | americanbankingnews.com

Lyft (NASDAQ:LYFT) Price Target Raised to $12.00