Lyft (LYFT, $55.38) loss narrows, as revenue more than doubles
Lyft reported a narrower second-quarter loss, compared to a year-ago.
The ride-hailing company’s quarterly net loss narrowed to -76 cents a share from -$1.41 a share in the year-earlier quarter.
Revenue more than doubled from the year-ago period to reach $765 million in the quarter. As of June-end, Lyft had 17.1 million active riders, vs. 8.7 million a year earlier.
Last month, Lyft announced a collaboration with Argo AI and Ford to launch at least 1,000 self-driving vehicles in various US cities over the next five years, beginning with Miami and Austin. Later this year, the first Ford self-driving vehicles with Argo’s self-driving vehicle technology will be available on Lyft’s app in Miami.
LYFT's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for LYFT turned positive on May 30, 2023. Looking at past instances where LYFT's MACD turned positive, the stock continued to rise in of 31 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on LYFT as a result. In of 68 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
LYFT moved above its 50-day moving average on June 02, 2023 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where LYFT advanced for three days, in of 239 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The 10-day moving average for LYFT crossed bearishly below the 50-day moving average on May 11, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where LYFT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
LYFT broke above its upper Bollinger Band on June 06, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for LYFT entered a downward trend on June 05, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. LYFT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (10.194) is normal, around the industry mean (31.510). P/E Ratio (0.000) is within average values for comparable stocks, (167.536). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (4.116). Dividend Yield (0.000) settles around the average of (0.068) among similar stocks. P/S Ratio (0.882) is also within normal values, averaging (77.832).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. LYFT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a provider of online social rideshare community platform
Industry PackagedSoftware
LYFT and
Correlation & Price change
A.I.dvisor indicates that over the last year, LYFT has been loosely correlated with UBER. These tickers have moved in lockstep 59% of the time. This A.I.-generated data suggests there is some statistical probability that if LYFT jumps, then UBER could also see price increases.
| Ticker / NAME | Correlation To LYFT | 1D Price Change % | ||
|---|---|---|---|---|
| LYFT | 100% | -0.44% | ||
| UBER - LYFT | 59% Loosely correlated | -3.13% | ||
| DOCN - LYFT | 53% Loosely correlated | -4.43% | ||
| SQ - LYFT | 52% Loosely correlated | +0.39% | ||
| DOCU - LYFT | 52% Loosely correlated | -3.28% | ||
| COIN - LYFT | 51% Loosely correlated | +3.20% | ||
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