Lyft shares launched higher as Q3 reflects successful innovations, efficiencies
Seeking Alpha News (Thu, 7-Nov 4:13 PM ET)
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Lyft Stock Drives Higher After Better-Than-Expected Q3 Results
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Seeking Alpha News (Wed, 6-Nov 4:13 PM ET)
Lyft GAAP EPS of -$0.03 in-line, revenue of $1.52B beats by $80M
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Lyft Announces Strong Q3 2024 Financial Results and Raises Full-Year Outlook
Business Wire (Wed, 6-Nov 4:05 PM ET)
Lyft is the second-largest ride-sharing service provider in the us and Canada, connecting riders and drivers over the Lyft app. Incorporated in 2013, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft also has entered the bike- and scooter-share market to bring multimodal transportation options to users.
LYFT - Class A trades on the NASDAQ stock market under the symbol LYFT.
As of November 7, 2024, LYFT stock price climbed to $17.69 with 67,611,707 million shares trading.
LYFT has a beta of 2.13, meaning it tends to be more sensitive to market movements. LYFT has a correlation of 0.16 to the broad based SPY ETF.
LYFT has a market cap of $7.26 billion. This is considered a Mid Cap stock.
Last quarter LYFT - Class A reported $2 billion in Revenue and $.29 earnings per share. This beat revenue expectation by $83 million and exceeded earnings estimates by $.09.
In the last 3 years, LYFT traded as high as $57.68 and as low as $7.85.
The top ETF exchange traded funds that LYFT belongs to (by Net Assets): VTI, VB, COWZ, VBR, VXF.
LYFT has outperformed the market in the last year with a price return of +68.0% while the SPY ETF gained +38.3%. LYFT has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +61.3% and +29.5%, respectively, while the SPY returned +14.4% and +3.0%, respectively.
LYFT support price is $13.99 and resistance is $14.81 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that LYFT shares will trade within this expected range on the day.