Lyft, Inc. (NASDAQ:LYFT) Receives $16.40 Consensus Target Price from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned an average recommendation of “Hold” from the thirty-five ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twenty-four have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.50.

A number of brokerages have recently weighed in on LYFT. Susquehanna upped their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Tigress Financial restated a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. UBS Group lifted their price target on Lyft from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Oppenheimer restated an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Lyft in a report on Friday, May 9th. Finally, Morgan Stanley lowered their price objective on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th.

Insiders Place Their Bets

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the sale, the insider now owns 959,697 shares of the company’s stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the sale, the director now directly owns 879,498 shares in the company, valued at $13,896,068.40. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,732 shares of company stock worth $347,159 in the last ninety days. Insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Several large investors have recently added to or reduced their stakes in the company. Rakuten Group Inc. acquired a new position in Lyft during the 1st quarter worth about $130,434,000. Renaissance Technologies LLC increased its stake in Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Lyft by 828.5% in the 4th quarter. Two Sigma Advisers LP now owns 6,662,535 shares of the ride-sharing company’s stock valued at $85,947,000 after buying an additional 5,945,000 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Lyft by 26.3% during the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after purchasing an additional 5,178,118 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Lyft by 103.3% during the 1st quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock worth $110,598,000 after buying an additional 4,980,876 shares during the period. 83.07% of the stock is owned by institutional investors.

Lyft Stock Up 1.9%

Shares of Lyft stock opened at $15.85 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. Lyft has a 1-year low of $8.93 and a 1-year high of $19.07. The business’s fifty day moving average price is $14.68 and its two-hundred day moving average price is $13.51. The company has a market capitalization of $6.63 billion, a P/E ratio of 105.67, a PEG ratio of 3.05 and a beta of 2.22.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS. As a group, research analysts forecast that Lyft will post 0.22 EPS for the current year.

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.