Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Potential Upside |
|---|---|---|---|---|---|---|---|
| 7 Nov, 24 | LYFT | Speculative Buy | USD 18.27 | USD 19.66 | USD 20.9 | Same day | 14.4% |
Data Powered by EOD Historical Data (“EODHD”).
Lyft, Inc. operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips. It also offers centralized tools and enterprise transportation solutions, such as concierge transportation solutions for organizations; Lyft Pink subscription plans; Lyft Pass commuter programs; first-mile and last-mile services; and university safe rides programs. The company was formerly known as Zimride, Inc. and changed its name to Lyft, Inc. in April 2013. Lyft, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.
Operating Efficiency: Asset Turnover of 0.30x in Q3 FY24 vs Industry Median of 0.23x
Decreasing Credit Risk Exposure: Debt-Equity of 1.47x in Q3 FY24 vs Industry Median of 0.55x
Lower Profitability: Gross Margins of 34.0% in Q3 FY24 vs Industry Median of 55.7%
Lower Liquidity: Current Ratio of 0.75x in Q3 FY24 vs Industry Median of 1.20x
Operational Losses and Path to Profitability, Driver Incentives and Retention, Dependence on Technology Infrastructure, Scalability and Geographic Expansion, Rising Insurance Costs, etc.
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 18.27 | 15.95 | 19.66 | 20.9 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
LYFT's stock price has experienced an upward range breakout, suggesting potential near-term gains. The increasing 14-day Relative Strength Index (RSI) further reinforces the possibility of upward momentum. Moreover, the stock is trading above its key moving averages, which adds to the bullish outlook.
As per the above-mentioned technical indicators analysis, a ‘Speculative Buy’ rating has been given to Lyft, Inc (NASDAQ: LYFT) at the current market price of USD 18.27 as of 07 November 2024 at 07:06 AM PDT.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Technology Industry: Software - Application
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| LYFT LYFT Inc |
0.0082 0.06% | 13.62 | - | 45.66 | 1.70 | 13.85 | 1.56 | -36.2866 |
| CRM Salesforce.com Inc |
1.65 0.49% | 338.88 | 100.89 | 27.47 | 7.42 | 4.34 | 7.44 | 26.81 |
| SAPGF SAP SE |
0.05 0.02% | 245.50 | 76.28 | 22.88 | 5.61 | 3.84 | 5.59 | 26.18 |
| SAP SAP SE ADR |
1.52 0.62% | 245.97 | 75.80 | 22.37 | 5.62 | 3.75 | 5.51 | 25.79 |
| INTU Intuit Inc |
-5.88 0.90% | 643.93 | 55.56 | 32.68 | 11.28 | 10.07 | 11.62 | 40.11 |
Data Powered by EOD Historical Data (“EODHD”).
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 07 November 2024 at 07:06 AM PDT. The reference data in this report has been partly sourced from REFINITIV.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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