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

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned an average recommendation of “Hold” from the thirty-four ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.78.

LYFT has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Oppenheimer boosted their price target on shares of Lyft from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Lyft from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. Finally, Wall Street Zen raised shares of Lyft from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $14.76 on Friday. Lyft has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. The company’s 50-day moving average is $15.65 and its 200 day moving average is $13.67. The stock has a market capitalization of $6.17 billion, a P/E ratio of 98.40, a P/E/G ratio of 2.90 and a beta of 2.20.

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

Insider Transactions at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total value of $38,299.20. Following the sale, the director owned 879,498 shares in the company, valued at $13,896,068.40. This represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jill Beggs sold 1,572 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the sale, the director owned 20,467 shares in the company, valued at $335,863.47. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,732 shares of company stock worth $347,159. 3.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lyft

A number of institutional investors have recently bought and sold shares of the stock. Spurstone Advisory Services LLC bought a new position in shares of Lyft in the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lyft during the second quarter valued at approximately $32,000. GAMMA Investing LLC raised its stake in shares of Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after acquiring an additional 1,237 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Lyft during the first quarter valued at approximately $35,000. 83.07% of the stock is owned by 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.