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

Lyft, Inc. (NASDAQ:LYFT) has been assigned an average recommendation of “Hold” from the thirty-eight ratings firms that are covering the stock, MarketBeat.com reports. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.78.

Several research firms recently weighed in on LYFT. Morgan Stanley increased their price target on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Evercore ISI increased their target price on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Susquehanna lifted their price target on shares of Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Loop Capital increased their price objective on Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their target price on Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Lyft Trading Up 0.8 %

Shares of LYFT stock opened at $14.39 on Tuesday. 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 $5.97 billion, a price-to-earnings ratio of -89.94, a PEG ratio of 4.10 and a beta of 2.14. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a 50-day simple moving average of $15.43 and a two-hundred day simple moving average of $13.42.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) 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 analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. Research analysts anticipate that Lyft will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock worth $427,330 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. True Wealth Design LLC bought a new position in Lyft during the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC bought a new position in shares of Lyft in the second quarter worth approximately $35,000. Brown Brothers Harriman & Co. purchased a new position in shares of Lyft in the second quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in Lyft during the 3rd quarter valued at $38,000. Finally, Quarry LP boosted its position in Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after buying an additional 3,468 shares during the period. 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.