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

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned a consensus recommendation of “Hold” from the thirty-three analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, twenty-three have given a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.8276.

Several equities research analysts have weighed in on the company. Cantor Fitzgerald dropped their target price on Lyft from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Lyft from $25.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, February 11th. Royal Bank Of Canada lowered their price target on Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Wedbush lowered their price target on Lyft from $16.00 to $13.00 and set an “underperform” rating on the stock in a report on Wednesday, February 11th. Finally, Roth Mkm reissued a “buy” rating and set a $23.00 price target on shares of Lyft in a report on Friday, May 8th.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $354,915.00. Following the transaction, the insider directly owned 916,022 shares of the company’s stock, valued at approximately $13,740,330. This trade represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 54,196 shares of company stock valued at $788,521. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LYFT. Brown Brothers Harriman & Co. lifted its holdings in Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock valued at $75,000 after acquiring an additional 639 shares during the last quarter. CI Investments Inc. lifted its stake in Lyft by 39.1% during the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 653 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Lyft by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after purchasing an additional 681 shares during the last quarter. Allegiance Financial Group Advisory Services LLC lifted its stake in Lyft by 4.3% during the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after purchasing an additional 756 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Lyft by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock valued at $3,684,000 after purchasing an additional 771 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $14.02 on Tuesday. Lyft has a 1-year low of $12.46 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The business’s fifty day moving average price is $13.85 and its two-hundred day moving average price is $16.06. The firm has a market capitalization of $5.32 billion, a PE ratio of 2.05, a P/E/G ratio of 0.85 and a beta of 1.82.

Lyft (NASDAQ:LYFT) last issued its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $0.01 earnings per share. Lyft’s quarterly revenue was up 17.2% on a year-over-year basis. On average, research analysts expect that Lyft will post 0.66 EPS for the current year.

Lyft declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 10th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the ride-sharing company to purchase up to 15.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

About Lyft

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.