Is a Correction Looming Ahead for Lyft Inc. (LYFT) – News Heater
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Is a Correction Looming Ahead for Lyft Inc. (LYFT)

Lyft Inc. (NASDAQ:LYFT) went down by -1.48% from its latest closing price compared to the recent 1-year high of $63.07. The company’s stock price has collected 2.66% of gains in the last five trading sessions. The Wall Street Journal reported on 05/27/22 that Uber and Lyft’s New Road: Fewer Drivers, Thrifty Riders and Jittery Investors

Is It Worth Investing in Lyft Inc. (NASDAQ :LYFT) Right Now?

Opinions of the stock are interesting as 24 analysts out of 41 who provided ratings for Lyft Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 15 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $39.51, which is $27.55 above the current price. LYFT currently public float of 304.50M and currently shorts hold a 9.82% ratio of that float. Today, the average trading volume of LYFT was 11.52M shares.

LYFT’s Market Performance

LYFT stocks went up by 2.66% for the week, with a monthly drop of -23.95% and a quarterly performance of -60.19%, while its annual performance rate touched -75.34%. The volatility ratio for the week stands at 6.88% while the volatility levels for the past 30 days are set at 6.93% for Lyft Inc. The simple moving average for the period of the last 20 days is -12.60% for LYFT stocks with a simple moving average of -62.35% for the last 200 days.

Analysts’ Opinion of LYFT

Many brokerage firms have already submitted their reports for LYFT stocks, with Bernstein repeating the rating for LYFT by listing it as a “Mkt Perform.” The predicted price for LYFT in the upcoming period, according to Bernstein is $22 based on the research report published on May 24th of the current year 2022.

Susquehanna, on the other hand, stated in their research note that they expect to see LYFT reach a price target of $25, previously predicting the price at $54. The rating they have provided for LYFT stocks is “Neutral” according to the report published on May 04th, 2022.

Deutsche Bank gave a rating of “Hold” to LYFT, setting the target price at $43 in the report published on March 11th of the current year.

LYFT Trading at -37.64% from the 50-Day Moving Average

After a stumble in the market that brought LYFT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -76.74% of loss for the given period.

Volatility was left at 6.93%, however, over the last 30 days, the volatility rate increased by 6.88%, as shares sank -23.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -57.61% lower at present.

During the last 5 trading sessions, LYFT rose by +2.66%, which changed the moving average for the period of 200-days by -70.24% in comparison to the 20-day moving average, which settled at $16.57. In addition, Lyft Inc. saw -65.67% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at LYFT starting from Wilderotter Mary Agnes, who sale 553 shares at the price of $17.94 back on May 27. After this action, Wilderotter Mary Agnes now owns 21,824 shares of Lyft Inc., valued at $9,919 using the latest closing price.

Sverchek Kristin, the President of Business Affairs of Lyft Inc., sale 4,000 shares at $40.00 during a trade that took place back on Mar 29, which means that Sverchek Kristin is holding 83,350 shares at $160,003 based on the most recent closing price.

Stock Fundamentals for LYFT

Current profitability levels for the company are sitting at:

  • -35.38 for the present operating margin
  • +34.40 for the gross margin

The net margin for Lyft Inc. stands at -33.11. Equity return is now at value -62.50, with -17.60 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.10.

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