Lyft Inc [LYFT] stock is trading at $16.35, up 2.96%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The LYFT shares have gain 2.12% over the last week, with a monthly amount glided 30.90%, and seem to be holding up well over a long-time horizon.
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On 23, February 2024, Lyft Announces Pricing of Offering of $400 million of Convertible Senior Notes. In a post published today on Yahoo Finance, Lyft, Inc. (“Lyft”) (NASDAQ: LYFT) today announced the pricing of $400 million aggregate principal amount of Convertible Senior Notes due 2029 (the “notes”) in a private offering (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Lyft also granted the initial purchasers of the notes an option to purchase, for settlement within a 13-day period beginning on, and including, the date Lyft first issues the notes, up to an additional $60 million aggregate principal amount of the notes, solely to cover over-allotments. The sale of the notes to the initial purchasers is expected to settle on February 27, 2024, subject to customary closing conditions, and is expected to result in approximately $389.6 million in net proceeds to Lyft after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by Lyft (assuming no exercise of the initial purchasers’ option to purchase additional notes).
From an analyst’s perspective:
Lyft Inc [NASDAQ: LYFT] stock has seen the most recent analyst activity on February 14, 2024, when MoffettNathanson upgraded its rating to a Neutral. Previously, Goldman downgraded its rating to Neutral on January 11, 2024, and elevated its price target to $15. On January 09, 2024, BMO Capital Markets initiated with a Market Perform rating and assigned a price target of $15 on the stock. Nomura downgraded its rating to a Reduce and increased its price target to $13 on December 29, 2023. MoffettNathanson downgraded its rating to a Sell but $7 remained the price target by the analyst firm on October 31, 2023. TD Cowen reiterated a Market Perform rating for this stock on July 19, 2023, and upped its price target to $11. In a note dated June 08, 2023, Wells Fargo initiated an Equal Weight rating and provided a target price of $9 on this stock.
Lyft Inc [LYFT] stock has fluctuated between $7.85 and $19.42 over the past year. Currently, Wall Street analysts expect the stock to reach $38.85 within the next 12 months. Lyft Inc [NASDAQ: LYFT] shares were valued at $16.35 at the most recent close of the market. An investor can expect a potential return of 137.61% based on the average LYFT price forecast.
Analyzing the LYFT fundamentals
Lyft Inc [NASDAQ:LYFT] reported sales of 4.40B for the trailing twelve months, which represents a growth of 4.22%. Gross Profit Margin for this corporation currently stands at 0.4% with Operating Profit Margin at -0.11%, Pretax Profit Margin comes in at -0.08%, and Net Profit Margin reading is -0.08%. To continue investigating profitability, this company’s Return on Assets is posted at -0.07, Equity is -0.77 and Total Capital is -0.3. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.72.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 15.86 points at the first support level, and at 15.38 for the second support level. However, for the 1st resistance point, the stock is sitting at 16.68, and for the 2nd resistance point, it is at 17.02.
Lyft Inc [LYFT] reported earnings per share of $0.18 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.08/share, meaning a difference of $0.1 and a surprise factor of 125.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.24 per share as compared to estimates of $0.13 per share, a difference of $0.11 representing a surprise of 84.60%.
Ratios To Look Out For
For context, Lyft Inc’s Current Ratio is 0.87. Also, the Quick Ratio is 0.87, while the Cash Ratio stands at 0.19. Considering the valuation of this stock, the price to sales ratio is 1.48, the price to book ratio is 12.07.
Transactions by insiders
Recent insider trading involved BLACKWOOD-KAPRAL LISA, CHIEF ACCOUNTING OFFICER, that happened on Feb 26 when 18065.0 shares were sold. Director, Zimmer John Patrick completed a deal on Feb 20 to sell 15724.0 shares. Meanwhile, Director Green Logan sold 13764.0 shares on Feb 20.
