Lyft (NASDAQ:LYFT) Lifted to “Hold” at Nomura Securities

Nomura Securities upgraded shares of Lyft (NASDAQ:LYFT) from a strong sell rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Piper Sandler restated an overweight rating and set a $24.00 price target (up previously from $23.00) on shares of Lyft in a research note on Friday, June 7th. BMO Capital Markets dropped their price target on Lyft from $19.00 to $13.00 and set a market perform rating on the stock in a research report on Thursday, August 8th. Roth Mkm decreased their price objective on Lyft from $19.00 to $13.00 and set a neutral rating for the company in a report on Wednesday, August 14th. Sanford C. Bernstein increased their target price on Lyft from $15.00 to $19.00 and gave the stock a market perform rating in a research report on Wednesday, May 8th. Finally, Bank of America upgraded Lyft from an underperform rating to a buy rating and lifted their price target for the company from $15.00 to $20.00 in a research report on Friday, June 7th. Twenty-five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $15.87.

Lyft Stock Performance

Shares of Lyft stock opened at $11.68 on Friday. The business’s fifty day simple moving average is $12.30 and its 200 day simple moving average is $15.27. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. Lyft has a 12 month low of $8.85 and a 12 month high of $20.82. The firm has a market capitalization of $4.71 billion, a P/E ratio of -24.85 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the business posted ($0.14) EPS. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, analysts anticipate that Lyft will post -0.18 EPS for the current year.

Insider Activity at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at approximately $5,513,536.51. The sale was disclosed in a filing with the SEC, which is available through this link. In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the transaction, the chief accounting officer now directly owns 351,853 shares in the company, valued at approximately $5,513,536.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, the director now directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. The disclosure for this sale can be found here. Insiders have sold a total of 32,598 shares of company stock worth $469,611 in the last 90 days. Company insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FinTrust Capital Advisors LLC grew its stake in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. a16z Perennial Management L.P. purchased a new stake in shares of Lyft during the fourth quarter valued at approximately $34,000. Kapitalo Investimentos Ltda bought a new stake in shares of Lyft during the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new position in Lyft in the 2nd quarter worth approximately $35,000. Finally, Brown Brothers Harriman & Co. bought a new position in Lyft in the 2nd quarter valued at approximately $35,000. Institutional investors own 83.07% of the company’s stock.

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.