Lyft, Inc. (NASDAQ:LYFT) is one of the best performers on the stock market today. At current price of $46.75, the shares have already added 0.4 points (0.86% higher) from its previous close of $46.35. Should you buy or avoid them? The stock sets an active trading volume day with a reported 575630 contracts so far this session. LYFT shares had a relatively better volume day versus average trading capacity of 6.09 million shares, but with a 0.2 billion float and a 7.54% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for LYFT stock indicates that the average analyst price target is $67.25 per share. This means the stock has a potential increase of 43.85% from where the LYFT share price has been trading recently.
Looking at the current readings for Lyft, Inc., the two-week RSI stands at 58.59. This figure suggests that LYFT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current LYFT readings is similarly very revealing as it has a stochastic reading of 75.87% at this stage. This figure means that LYFT share price today is being oversold.
Technical chart claims that Lyft, Inc. (LYFT) would settle between $46.82/share to $47.3/share level. However, if the stock price goes below the $45.5 mark, then the market for Lyft, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $44.66 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.5. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Bernstein, assumed coverage of LYFT assigning Mkt Perform rating, according to their opinion released on January 10. The Benchmark Company, analysts launched coverage of Lyft, Inc. (NASDAQ:LYFT) stock with a Sell recommendation, according to their flash note issued to investors on January 09. Analysts at Loop Capital released an upgrade from Hold to Buy for the stock, in a research note that dated back to November 25.
LYFT equity has an average rating of 2.16, with the figure leaning towards a bullish end. 33 analysts who tracked the company were contacted by Reuters. Amongst them, 9 rated the stock as a hold while the remaining 24 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 22 analysts rated Lyft, Inc. (NASDAQ:LYFT) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.