Lyft (NASDAQ:LYFT) Now Covered by Analysts at Mizuho

Mizuho began coverage on shares of Lyft (NASDAQ:LYFT) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $24.00 price objective on the ride-sharing company’s stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup restated a “hold” rating and set a $14.00 target price (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Cowen restated a “buy” rating on shares of Lyft in a report on Wednesday, September 24th. Roth Capital upgraded Lyft from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Thursday, August 7th. Canaccord Genuity Group raised their target price on Lyft from $11.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, September 18th. Finally, Benchmark lifted their price objective on Lyft from $20.00 to $26.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.02.

Lyft Price Performance

Shares of LYFT opened at $22.01 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft has a 1 year low of $9.66 and a 1 year high of $23.50. The stock has a market cap of $8.95 billion, a P/E ratio of 91.71, a price-to-earnings-growth ratio of 3.59 and a beta of 2.33. The stock’s 50-day moving average price is $17.14 and its two-hundred day moving average price is $15.05.

Lyft (NASDAQ:LYFT) last issued its 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business posted $0.24 EPS. Lyft’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that Lyft will post 0.22 earnings per share for the current year.

Insider Activity at Lyft

In other news, CEO John David Risher bought 5,926 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer owned 11,797,266 shares in the company, valued at $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of Lyft stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $20.00, for a total value of $292,120.00. Following the completion of the sale, the insider directly owned 835,782 shares in the company, valued at approximately $16,715,640. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of LYFT. Corient Private Wealth LLC increased its position in shares of Lyft by 37.3% during the 2nd quarter. Corient Private Wealth LLC now owns 15,730 shares of the ride-sharing company’s stock worth $248,000 after purchasing an additional 4,271 shares during the last quarter. American Trust acquired a new position in shares of Lyft during the 2nd quarter worth approximately $195,000. Thrivent Financial for Lutherans acquired a new position in shares of Lyft during the 2nd quarter worth approximately $942,000. Neuberger Berman Group LLC increased its position in shares of Lyft by 101.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 49,121 shares of the ride-sharing company’s stock worth $774,000 after purchasing an additional 24,680 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Lyft during the 2nd quarter worth approximately $445,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.