Lyft, Inc. (NASDAQ:LYFT) Given Average Rating of “Hold” by Brokerages

Shares of Lyft, Inc. (NASDAQ:LYFT) have earned a consensus rating of “Hold” from the thirty-six analysts that are presently covering the stock, Marketbeat Ratings reports. Twenty-six research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.65.

Several research analysts recently commented on LYFT shares. Gordon Haskett raised Lyft from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. Susquehanna cut their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group lifted their price target on shares of Lyft from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. dropped their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Fox Advisors raised shares of Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Friday, June 7th.

Lyft Stock Performance

NASDAQ:LYFT opened at $12.47 on Friday. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The company has a 50 day moving average price of $11.54 and a 200 day moving average price of $14.69. The stock has a market capitalization of $5.03 billion, a P/E ratio of -26.53 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. Equities research analysts forecast that Lyft will post -0.16 EPS for the current year.

Insider Transactions at Lyft

In other news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $14.01, for a total transaction of $49,035.00. Following the completion of the transaction, the president now directly owns 50,778 shares of the company’s stock, valued at approximately $711,399.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $14.01, for a total transaction of $49,035.00. Following the transaction, the president now directly owns 50,778 shares of the company’s stock, valued at approximately $711,399.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Logan Green sold 10,323 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The disclosure for this sale can be found here. Insiders have sold a total of 39,164 shares of company stock worth $470,513 over the last ninety days. 3.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

Several institutional investors have recently modified their holdings of LYFT. FinTrust Capital Advisors LLC grew its stake in Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new position in shares of Lyft during the 2nd quarter worth approximately $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft during the 2nd quarter worth approximately $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Lyft during the 4th quarter valued at $40,000. Hedge funds and other 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.