LYFT Stock Summary and Trading Ideas (LYFT - Class A | NASDAQ:LYFT)

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 April 23, 2024, LYFT stock price climbed to $16.95 with 2,223,973 million shares trading.

LYFT has a beta of 2.79, meaning it tends to be more sensitive to market movements. LYFT has a correlation of 0.21 to the broad based SPY ETF.

LYFT has a market cap of $6.78 billion. This is considered a Mid Cap stock.

Last quarter LYFT - Class A reported $1 billion in Revenue and $.18 earnings per share. This beat revenue expectation by $5 million and exceeded earnings estimates by $.10.

In the last 3 years, LYFT stock traded as high as $65.64 and as low as $7.85.

The top ETF exchange traded funds that LYFT belongs to (by Net Assets): VTI, VB, VBR, VXF, SCHA.

LYFT has outperformed the market in the last year with a return of +62.4%, while the SPY ETF gained +24.1%. In the last 3 month period, LYFT beat the market returning +32.8%, while SPY returned +4.7%. However, in the most recent 2 weeks LYFT has underperformed the stock market by returning -4.9%, while SPY returned -2.7%.

LYFT support price is $16.08 and resistance is $17.38 (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 stock will trade within this expected range on the day.