The 43 analysts covering Lyft have cooled to its prospects, with 11 having a Buy or Strong Buy rating and 31 assigning a Hold rating. At a share price of around $11.00, the stock trades right at its median price target. At the high target of $32.00, the upside potential is 191%.
Second-quarter revenue is forecast at $1.02 billion, up 2.2% sequentially and 2.9% higher year over year. The company is expected to report an adjusted loss of $0.01 per share, compared to EPS of $0.07 in the prior quarter and EPS of $0.13 a year ago. For the full 2023 fiscal year, analysts anticipate EPS of $0.19, solidly better than last year’s loss per share of $1.50, on sales of $4.29 billion, up 4.8%.
Lyft stock trades at 55.9 times expected 2023 EPS, 23.0 times estimated 2024 EPS of $0.47 and 13.5 times estimated 2025 earnings of $0.81 per share. Its 52-week range is $7.85 to $21.52. Lyft does not pay a dividend, and total shareholder return for the past 12 months was negative 37.61%.
Marathon Digital
Bitcoin miner Marathon Digital Holdings Inc. (NASDAQ: MARA) has soared by more than 360% so far in 2023, but that amounts to a gain of just 18% over the past 12 months. Bitcoin prices are up about 29% over the 12 months.
Marathon is the world’s largest publicly traded Bitcoin miner that mines for its own bank account rather than mining for customers. The company’s hash rate (a measure of how many instructions its mining machines can run) in July reached 18.8 exahashes per second. That is nearly 19 quintillion instructions per second. Last week, the company said it produced 1,176 Bitcoin in July, up 20% sequentially and up more than 1,500% year over year.
Just six analysts cover the stock, with half having a Buy or Strong Buy rating and the other half with Hold ratings. At a share price of around $16.00, the stock trades right above its median price target of $15. At the high target of $21.00, the upside potential is 31.3%.
Second-quarter revenue is forecast at $89.25 million, up almost 75% sequentially and by 258% year over year. The company is expected to report an adjusted loss of $0.08 per share, compared to a loss per share of $0.04 in the prior quarter and a loss of $2.23 per share in the year-ago quarter. For the full 2023 fiscal year, analysts project a loss per share of $0.02, much better than last year’s loss per share of $1.75, on revenue of $413.6 million, up 251.2%.
The stock trades at 22.8 times estimated 2024 EPS of $0.69 per share. The 52-week trading range is $3.11 to $19.88. The company does not pay a dividend, and total shareholder return for the past 12 months was 17.96%.
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