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

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

Several equities research analysts have recently commented on the stock. Citigroup reduced 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. JPMorgan Chase & Co. reduced their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Truist Financial reduced their target price on shares of Lyft from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets reduced their target price on shares of Lyft from $19.00 to $13.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $13.00 target price on shares of Lyft in a research note on Monday, October 7th.

Lyft Trading Up 0.7 %

Shares of Lyft stock opened at $13.39 on Thursday. The firm has a market capitalization of $5.40 billion, a PE ratio of -28.49 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The company’s fifty day moving average price is $11.88 and its two-hundred day moving average price is $13.95. Lyft has a 52-week low of $8.85 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) EPS. On average, analysts expect that Lyft will post -0.09 EPS for the current year.

Insider Activity

In related news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the transaction, the insider now owns 760,089 shares of the company’s stock, valued at $9,121,068. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the transaction, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,664 shares of company stock valued at $380,048 in the last ninety days. 3.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

A number of large investors have recently bought and sold shares of LYFT. Price T Rowe Associates Inc. MD boosted its position in Lyft by 592.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after acquiring an additional 1,218,620 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Lyft by 27,739.2% in the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock valued at $16,665,000 after buying an additional 1,188,625 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lyft by 39.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after buying an additional 812,926 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after buying an additional 782,736 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of Lyft by 600.2% in the 1st quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company’s stock valued at $11,767,000 after buying an additional 521,537 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

About Lyft

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.