Lyft Inc [LYFT] stock is trading at $20.16, down -0.59%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The LYFT shares have gain 17.01% over the last week, with a monthly amount glided 26.71%, 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 March 05, 2024, when Argus upgraded its rating to a Buy. Previously, RBC Capital Mkts upgraded its rating to Outperform on March 04, 2024, and elevated its price target to $23. On February 14, 2024, upgrade upgraded it’s rating to Neutral. Goldman downgraded its rating to a Neutral and increased its price target to $15 on January 11, 2024. BMO Capital Markets initiated its recommendation with a Market Perform and recommended $15 as its price target on January 09, 2024. Nomura downgraded its rating to Reduce for this stock on December 29, 2023, and upped its price target to $13. In a note dated October 31, 2023, MoffettNathanson downgraded an Sell rating on this stock but restated the target price of $7.
Lyft Inc [LYFT] stock has fluctuated between $7.85 and $20.82 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 $20.16 at the most recent close of the market. An investor can expect a potential return of 92.71% 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.72.
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 19.77 points at the first support level, and at 19.38 for the second support level. However, for the 1st resistance point, the stock is sitting at 20.61, and for the 2nd resistance point, it is at 21.06.
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. Further, the Quick Ratio stands at 0.87, while the Cash Ratio is 0.19. Considering the valuation of this stock, the price to sales ratio is 1.83, the price to book ratio is 14.88.
Transactions by insiders
Recent insider trading involved Sverchek Kristin, PRESIDENT, that happened on Mar 04 ’24 when 3500.0 shares were sold. PRESIDENT, Sverchek Kristin completed a deal on Mar 01 ’24 to sell 6500.0 shares. Meanwhile, Director Green Logan sold 11867.0 shares on Feb 29 ’24.
