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

Lyft, Inc. (NASDAQ:LYFT) has been assigned an average recommendation of “Hold” from the thirty-two research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $16.6964.

A number of equities analysts have issued reports on the stock. TD Cowen raised shares of Lyft from a “hold” rating to a “buy” rating and raised their price target for the stock from $16.00 to $21.00 in a research report on Tuesday, June 24th. Susquehanna reaffirmed a “neutral” rating and set a $14.00 price objective (down previously from $18.00) on shares of Lyft in a research note on Monday. Oppenheimer dropped their price objective on shares of Lyft from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Barclays raised their price objective on shares of Lyft from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $28.00 price objective (up previously from $26.00) on shares of Lyft in a research note on Wednesday, May 21st.

Insider Activity

In other news, Director Jill Beggs sold 1,572 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the sale, the director directly owned 20,467 shares in the company, valued at $335,863.47. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the sale, the director owned 879,498 shares of the company’s stock, valued at $13,896,068.40. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Lyft by 5.7% in the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after purchasing an additional 2,046,639 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock valued at $294,978,000 after purchasing an additional 5,178,118 shares during the period. Rakuten Group Inc. purchased a new stake in shares of Lyft in the first quarter valued at about $130,434,000. AQR Capital Management LLC grew its holdings in shares of Lyft by 103.3% in the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock valued at $110,598,000 after purchasing an additional 4,980,876 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Lyft by 15.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock valued at $120,463,000 after purchasing an additional 1,224,056 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

LYFT opened at $13.88 on Wednesday. Lyft has a 12-month low of $9.66 and a 12-month high of $19.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.80 billion, a PE ratio of 57.84, a P/E/G ratio of 2.94 and a beta of 2.26. The firm has a 50 day moving average of $14.96 and a two-hundred day moving average of $13.75.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts anticipate 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.