Analysts Set Lyft, Inc. (NASDAQ:LYFT) PT at $15.65

Shares of Lyft, Inc. (NASDAQ:LYFT) have received an average recommendation of “Hold” from the thirty-six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twenty-five have given a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $15.68.

LYFT has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of Lyft in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Citigroup lowered their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price 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. Barclays dropped their price objective on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, BMO Capital Markets dropped their price objective on shares of Lyft from $19.00 to $13.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th.

Lyft Trading Up 2.7 %

NASDAQ LYFT opened at $13.99 on Thursday. The stock has a market capitalization of $5.64 billion, a P/E ratio of -29.77 and a beta of 2.04. Lyft has a 52-week low of $8.85 and a 52-week high of $20.82. The firm has a 50-day moving average price of $12.03 and a 200 day moving average price of $13.88. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last posted 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 firm had revenue of $1.44 billion during 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 firm’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) earnings per share. Equities research analysts expect that Lyft will post -0.09 EPS for the current year.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00. Following the transaction, the insider now owns 760,089 shares in the company, valued at approximately $9,121,068. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00. Following the transaction, the insider now owns 760,089 shares in the company, valued at approximately $9,121,068. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares in the company, valued at $10,523,502.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,664 shares of company stock worth $380,048. 3.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lyft

A number of institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Lyft by 2,103.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company’s stock worth $252,000 after buying an additional 18,868 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Lyft by 21.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 47,181 shares of the ride-sharing company’s stock worth $602,000 after purchasing an additional 8,408 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Lyft in the 3rd quarter worth about $284,000. CWM LLC increased its position in shares of Lyft by 512.2% in the 3rd quarter. CWM LLC now owns 42,656 shares of the ride-sharing company’s stock worth $544,000 after purchasing an additional 35,688 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Lyft by 251.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 87,800 shares of the ride-sharing company’s stock worth $1,238,000 after purchasing an additional 62,786 shares during the last quarter. Institutional investors and hedge funds 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.