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

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned a consensus rating of “Hold” from the thirty-seven analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.40.

A number of research analysts recently commented on the company. Sanford C. Bernstein initiated coverage on Lyft in a report on Wednesday, June 17th. They issued an “underperform” rating on the stock. Truist Financial lifted their price objective on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, May 8th. William Blair cut shares of Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Canaccord Genuity Group lowered their target price on shares of Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Finally, Royal Bank Of Canada dropped their target price on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 8th.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the transaction, the chief financial officer directly owned 705,979 shares of the company’s stock, valued at approximately $9,594,254.61. The trade was a 2.08% 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. Insiders have sold 69,196 shares of company stock worth $992,371 in the last quarter. 0.92% of the stock is owned by company insiders.

Institutional Trading of Lyft

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Lyft during the 4th quarter worth approximately $109,987,000. Swedbank AB purchased a new position in shares of Lyft in the fourth quarter valued at $108,472,000. Contour Asset Management LLC bought a new stake in Lyft in the fourth quarter worth $75,870,000. Principal Financial Group Inc. increased its position in Lyft by 250.0% in the first quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company’s stock worth $56,479,000 after purchasing an additional 3,033,333 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Lyft by 479.1% during the third quarter. Victory Capital Management Inc. now owns 3,580,564 shares of the ride-sharing company’s stock valued at $78,808,000 after purchasing an additional 2,962,266 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $15.37 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $15.20. The firm has a market capitalization of $5.84 billion, a PE ratio of 2.24, a PEG ratio of 0.91 and a beta of 1.80. Lyft has a 52-week low of $12.46 and a 52-week high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.01 EPS. The business’s revenue was up 17.2% on a year-over-year basis. On average, analysts predict that Lyft will post 0.69 EPS for the current fiscal year.

Lyft Company Profile

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.