Lyft Inc (NASDAQ: LYFT) Is A Blank Check For Growth

Lyft Inc (NASDAQ:LYFT) shares, rose in value on Thursday, April 04, with the stock price up by 0.90% to the previous day’s close as strong demand from buyers drove the stock to $18.44.

Actively observing the price movement in the recent trading, the stock is buoying the session at $18.28. The value of beta (5-year monthly) is 1.96. Referring to stock’s 52-week performance, its high was $20.82, and the low was $7.85. On the whole, LYFT has fluctuated by 9.40% over the past month.

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With the market capitalization of Lyft Inc currently standing at about $7.37 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.02, which is expected to increase to $0.21 for fiscal year $0.6 and then to about $0.84 by fiscal year 2025. Data indicates that the EPS growth is expected to be -7.70% in 2025, while the next year’s EPS growth is forecast to be 40.00%.

Analysts have estimated the company’s revenue for the quarter at $1.15 billion, with a low estimate of $940.1 million and a high estimate of $1.23 billion. According to the average forecast, sales growth in current quarter could jump up 17.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $5.11 billion, representing an increase of 16.10% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that LYFT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LYFT currently trading nearly -1.18% and 14.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.38, while the 7-day volatility ratio is showing 4.37% which for the 30-day chart, stands at 4.99%. Furthermore, Lyft Inc (LYFT)’s beta value is 2.03, and its average true range (ATR) is 0.93.

A comparison of Lyft Inc (LYFT) with its peers suggests the former has fared considerably weaker in the market. LYFT showed an intraday change of 0.90% in today’s session so far, and over the past year, it grew by 103.36%%.

Data on historical trading for Lyft Inc (NASDAQ:LYFT) indicates that the trading volumes over the past 10 days have averaged 14.36 million and over the past 3 months, they’ve averaged 17.81 million. According to company’s latest data on outstanding shares, there are 391.24 million shares outstanding.

Nearly 14.97% of Lyft Inc’s shares belong to company insiders and institutional investors own 75.21% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 52.74 million shares as on Mar 15, 2024, resulting in a short ratio of 2.36. According to the data, the short interest in Lyft Inc (LYFT) stood at 13.19% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 46.16 million. The stock has risen by 23.05% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LYFT stock heading into the next quarter.