LYFT Inc (NASDAQ:LYFT) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 19,510,000 shares, an increase of 11.9% from the December 15th total of 17,440,000 shares. Based on an average daily trading volume, of 6,120,000 shares, the short-interest ratio is presently 3.2 days. Approximately 9.8% of the company’s stock are short sold.
Shares of LYFT traded down $0.73 during trading hours on Thursday, hitting $46.67. The stock had a trading volume of 108,723 shares, compared to its average volume of 5,193,935. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50-day moving average price of $46.12 and a 200 day moving average price of $49.24. LYFT has a fifty-two week low of $37.07 and a fifty-two week high of $88.60.
LYFT (NASDAQ:LYFT) last posted its earnings results on Wednesday, October 30th. The ride-sharing company reported ($1.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.66) by $0.09. The firm had revenue of $955.60 million during the quarter, compared to analyst estimates of $915.15 million. The company’s quarterly revenue was up 63.4% on a year-over-year basis. Equities research analysts anticipate that LYFT will post -10.41 earnings per share for the current year.
In other news, EVP Ran I. Makavy sold 31,862 shares of LYFT stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $43.60, for a total value of $1,389,183.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Logan Green sold 38,952 shares of LYFT stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $43.69, for a total transaction of $1,701,812.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,909 shares of company stock worth $10,435,627.
Several institutional investors and hedge funds have recently bought and sold shares of LYFT. Amundi Pioneer Asset Management Inc. acquired a new position in shares of LYFT in the 1st quarter valued at $39,000. Bank of Montreal Can acquired a new position in LYFT during the second quarter worth $131,000. Charles Schwab Investment Management Inc. acquired a new position in LYFT during the second quarter worth $4,641,000. LPL Financial LLC acquired a new position in LYFT during the second quarter worth $1,144,000. Finally, Bank of New York Mellon Corp acquired a new position in LYFT during the second quarter worth $7,368,000. Hedge funds and other institutional investors own 44.35% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Bernstein Bank assumed coverage on shares of LYFT in a research report on Friday, January 10th. They issued a “market perform” rating and a $48.00 price objective on the stock. Wells Fargo & Co initiated coverage on shares of LYFT in a research report on Thursday, September 26th. They set an “outperform” rating and a $60.00 target price on the stock. Wolfe Research raised shares of LYFT from an “underperform” rating to a “peer perform” rating and set a $36.00 target price on the stock in a research report on Monday, October 21st. Credit Suisse Group reissued a “buy” rating and set a $96.00 target price on shares of LYFT in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price on shares of LYFT to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $66.94.
LYFT Company Profile
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.
Recommended Story: Penny Stocks, Risk and Reward Factors
Receive News & Ratings for LYFT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LYFT and related companies with MarketBeat.com's FREE daily email newsletter.