Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>LYFT stock price shows a downward market trend with low trading volume activity.</a> </li> 
 <li> <span>2</span> <a>At $7.85, LYFT stock price noted its 52-week low.</a> </li> 
</ul> 
<p>LYFT Inc. (NASDAQ: LYFT) stock price experienced a bearish market trend that took its price to its recent closing price. However, quite a low trading volume activity was also noted in the LYFT stock price. In the recent trading session, the stock has experienced bears’ dominance. Due to this, the RSI also showed a bearish trend.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/Xs3yYtvQQ0MVj24W4U-rkl5yvGQfP6eX4v_XGpGchDg9rpJwyu6o2IYX2ScS_81UnZ_bnzaZn9CoS7zFu6rvnm9mQ7slDC2ClcP0xteh42wljchViFIzh4WRl722V14SrKoYT8FRiniEfpymH6rj8ew" alt="LYFT Stock: Will Lyft Inc. Stock Price Reach $10.00?"> 
  <figcaption class="wp-element-caption"> <strong>Source: TradingView</strong> 
  </figcaption> 
 </figure> 
</div> 
<p>It can be noted that due to the downward market trend, the technical rating of LYFT stock indicates “strong sell.” However, Getaround Inc. (NYSE: GETR), Marti Technologies Inc. (NYSEAMERICAN: MRT), and ModivCare Inc. (NASDAQ: MODV) stock prices further showed similar technical ratings.</p> 
<h2 class="wp-block-heading" id="strong-lyft-stock-price-analysis-strong"><strong>LYFT Stock Price Analysis</strong></h2> 
<p>LYFT stock price showed a downward market trend which caused a price drop of over 8% last week. However, the bearish trend followed in the stock price for quite a long time. On August 25, 2023, Friday’s trading session, LYFT stock price marked closing at $10.22. However, the stock traded in between the price range of $10.59 to $10.14.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/zYPQfHBqcy1AwKfLUpPQbnFH6VxQlioeFmff_TyKwPFeveQwOiQPmv9LT8_NW8yI4QtkjRMtkDxEccaHt8mSRR8yEMRgnsv9RDDwu0r7LJVWPoqam73jnBpGC6zdVvIpqQyg3xIun1p733oKXICqvR4" alt="LYFT Stock: Will Lyft Inc. Stock Price Reach $10.00?"> 
  <figcaption class="wp-element-caption"> <strong>Source: LYFT/USD by </strong><a href="https://www.tradingview.com/x/GLpQmp1f/" rel="noopener noreferrer nofollow"><strong>TradingView</strong></a> 
  </figcaption> 
 </figure> 
</div> 
<p>Notably, the recent one-month price drop in LYFT stock price was more than its year-to-date (YTD) price decline. As the stock dropped over 18% in a month, the YTD decline was noted at over 8%. It also indicates that the recent month was not so good for LYFT <a href="https://www.thecoinrepublic.com/2023/08/26/dxcm-stock-will-dexcom-inc-stock-price-drop-more-from-100-00/" rel="noopener noreferrer nofollow">shares</a>.</p> 
<p>As per the recent price performance of LYFT stock the dropping RSI can be clearly seen that may soon reach to the oversold zone. Although, near the recent weekend, the stock price dropped from its 100-day EMA.</p> 
<p>The 1-year price target set by analysts is showing at $11.79, up by over 15% from its recent closing price. Their maximum estimate is resting at $18.00 whereas the minimum estimate is $9.00.</p> 
<h3 class="wp-block-heading" id="strong-the-fundamentals-of-lyft-inc-strong"><strong>The Fundamentals of Lyft Inc.</strong></h3> 
<p>LYFT Inc. (NASDAQ: LYFT), an American company that provides online ridesharing services, has a market cap of nearly $3.94 Billion. In the recent Q2 2023, the company’s net income is negative $114.26 Million.</p> 
<p>According to the company’s recent quarter result, LYFT earnings per <a href="https://www.thecoinrepublic.com/2023/08/25/will-li-stock-price-reach-its-50-day-ema-near-weekend/" rel="noopener noreferrer nofollow">share </a>(EPS) is $0.15 whereas the estimation was negative $0.01 which accounts for an 1831.52% surprise. The revenue for the same period amounts to $1.02 Billion despite the estimated figure of $1.02 Billion.</p> 
<p>For the upcoming quarter, the estimated EPS is $0.14 whereas the revenue is expected to reach $1.14 Billion. Last year, the revenue of Lyft Inc. reached $4.10 Billion. The most of which — $3.81 Billion — came from its highest performing source at the moment, “contracts with customers”.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

LYFT Stock: Will Lyft Inc. Stock Price Reach $10.00?

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