Lyft, Inc. (NASDAQ:LYFT) Receives Average Recommendation of “Hold” from Brokerages

Lyft, Inc. (NASDAQ:LYFT) has been assigned a consensus rating of “Hold” from the thirty-eight research firms that are presently covering the stock, MarketBeat.com reports. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $17.77.

A number of brokerages have weighed in on LYFT. Loop Capital raised their target price on shares of Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company restated a “market perform” rating on shares of Lyft in a report on Friday, October 18th. Finally, Roth Mkm upped their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Insider Activity

In other Lyft news, Director Logan Green sold 10,919 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the sale, the director now directly owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at $5,987,018.86. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $427,330 in the last three months. Company insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LYFT. Sanctuary Advisors LLC lifted its position in Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after acquiring an additional 969 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Lyft by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after acquiring an additional 993 shares during the period. XTX Topco Ltd grew its stake in shares of Lyft by 2.5% in the third quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock worth $538,000 after acquiring an additional 1,043 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after acquiring an additional 1,160 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Lyft by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock valued at $1,054,000 after purchasing an additional 1,315 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Trading Down 2.0 %

Shares of LYFT opened at $13.05 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of -81.56, a PEG ratio of 4.10 and a beta of 2.09. The business’s fifty day moving average is $15.44 and its 200-day moving average is $13.43.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. The business’s quarterly revenue was up 31.6% on a year-over-year basis. Equities analysts anticipate that Lyft will post 0.08 EPS for the current fiscal year.

Lyft Company Profile

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.