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

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

LYFT has been the subject of a number of research reports. Citigroup decreased their price target on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group upped their price target on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Nomura Securities raised shares of Lyft from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. BMO Capital Markets upped their target price on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price target 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.

Lyft Trading Down 10.1 %

Shares of LYFT opened at $15.50 on Friday. The stock has a fifty day moving average of $14.98 and a two-hundred day moving average of $13.60. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $6.43 billion, a PE ratio of -96.88, a price-to-earnings-growth ratio of 4.91 and a beta of 2.09. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82.

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

Insider Transactions at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction that occurred 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 directly owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred 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 directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,909 shares of company stock valued at $505,686 in the last quarter. Insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its position in Lyft by 8.2% during the third quarter. Tidal Investments LLC now owns 221,906 shares of the ride-sharing company’s stock valued at $2,829,000 after purchasing an additional 16,911 shares in the last quarter. Sanctuary Advisors LLC grew its position in Lyft by 3.5% during the third quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after purchasing an additional 969 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Lyft during the third quarter valued at approximately $70,000. Public Employees Retirement System of Ohio grew its position in Lyft by 87.0% during the third quarter. Public Employees Retirement System of Ohio now owns 260,374 shares of the ride-sharing company’s stock valued at $3,320,000 after purchasing an additional 121,142 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Lyft during the third quarter valued at approximately $1,838,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.