Lyft, Inc. (NASDAQ:LYFT – Get Rating) was the target of some unusual options trading on Friday. Investors purchased 80,571 call options on the stock. This represents an increase of 72% compared to the typical daily volume of 46,919 call options.
Lyft Price Performance
LYFT stock opened at $20.28 on Friday. The firm has a 50 day moving average of $14.89 and a 200-day moving average of $27.17. Lyft has a 12-month low of $11.96 and a 12-month high of $57.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68. The company has a market cap of $7.07 billion, a price-to-earnings ratio of -8.86 and a beta of 1.82.
Lyft (NASDAQ:LYFT – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18. Lyft had a negative net margin of 22.42% and a negative return on equity of 50.06%. The company had revenue of $990.70 million during the quarter, compared to the consensus estimate of $988.14 million. During the same period last year, the firm earned ($0.68) EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. As a group, equities analysts expect that Lyft will post -1.82 EPS for the current fiscal year.
Analysts Set New Price Targets
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. MCF Advisors LLC purchased a new position in shares of Lyft during the 1st quarter worth approximately $25,000. Rockbridge Investment Management LCC increased its stake in shares of Lyft by 95.6% during the 4th quarter. Rockbridge Investment Management LCC now owns 671 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 328 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Lyft during the 1st quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Lyft by 206.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,067 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 719 shares in the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Lyft during the 1st quarter worth approximately $44,000. 80.43% of the stock is owned by hedge funds and other institutional investors.
Lyft Company Profile
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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