LYFT Inc (NASDAQ:LYFT) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 16,830,000 shares, a decline of 8.7% from the April 30th total of 18,440,000 shares. Approximately 8.0% of the shares of the company are short sold. Based on an average daily trading volume, of 11,680,000 shares, the days-to-cover ratio is presently 1.4 days.
LYFT has been the topic of a number of research analyst reports. Northcoast Research raised shares of LYFT from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, February 10th. Cowen restated an “outperform” rating and set a $74.00 target price (down from $78.00) on shares of LYFT in a research report on Wednesday, February 12th. Piper Sandler downgraded shares of LYFT from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $63.00 to $31.00 in a research report on Thursday, May 7th. MKM Partners decreased their target price on shares of LYFT from $53.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, KeyCorp decreased their target price on shares of LYFT from $55.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, March 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirty have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $48.82.
NASDAQ LYFT traded up $0.87 during trading hours on Friday, hitting $31.26. 6,675,080 shares of the company’s stock traded hands, compared to its average volume of 11,186,716. LYFT has a 52-week low of $14.56 and a 52-week high of $68.33. The company has a market capitalization of $9.32 billion, a PE ratio of -4.96 and a beta of 1.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.23 and a quick ratio of 1.23. The firm’s 50-day moving average is $29.32 and its 200-day moving average is $39.03.
LYFT (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, May 6th. The ride-sharing company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.08) by $0.20. LYFT had a negative net margin of 49.05% and a negative return on equity of 45.73%. The company had revenue of $955.71 million during the quarter, compared to analysts’ expectations of $864.44 million. Equities research analysts predict that LYFT will post -4.86 earnings per share for the current fiscal year.
In other news, EVP Ran I. Makavy sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.63, for a total transaction of $609,450.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Several institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of LYFT by 147.2% in the 4th quarter. FMR LLC now owns 42,686,898 shares of the ride-sharing company’s stock valued at $1,836,390,000 after buying an additional 25,416,234 shares during the period. Norges Bank purchased a new stake in shares of LYFT in the 4th quarter valued at approximately $166,444,000. Baillie Gifford & Co. grew its stake in shares of LYFT by 1.1% in the 1st quarter. Baillie Gifford & Co. now owns 3,726,896 shares of the ride-sharing company’s stock valued at $100,067,000 after buying an additional 42,134 shares during the period. State Street Corp grew its stake in shares of LYFT by 8.3% in the 1st quarter. State Street Corp now owns 3,519,952 shares of the ride-sharing company’s stock valued at $94,511,000 after buying an additional 270,710 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of LYFT by 51.2% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,139,284 shares of the ride-sharing company’s stock valued at $84,290,000 after buying an additional 1,062,700 shares during the period. 61.88% of the stock is owned by institutional investors and hedge funds.
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.
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