Lyft (NASDAQ:LYFT) Upgraded at Mizuho

Mizuho upgraded shares of Lyft (NASDAQ:LYFT) to a hold rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Cowen reiterated a “buy” rating on shares of Lyft in a research note on Wednesday, September 24th. Susquehanna reduced their target price on shares of Lyft from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Roth Capital raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a report on Thursday, August 7th. Benchmark boosted their price objective on shares of Lyft from $20.00 to $26.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Oppenheimer boosted their price objective on shares of Lyft from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Ten research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.02.

Lyft Trading Down 0.9%

Shares of NASDAQ:LYFT opened at $21.82 on Monday. Lyft has a 12 month low of $9.66 and a 12 month high of $23.50. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $17.28 and its 200 day simple moving average is $15.09. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 90.92, a PEG ratio of 3.44 and a beta of 2.40.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 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 analyst estimates of $1.61 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Lyft will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, CEO John David Risher bought 5,926 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the transaction, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer owned 540,759 shares of the company’s stock, valued at approximately $8,241,167.16. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,427 shares of company stock worth $1,252,686. 3.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC lifted its stake in Lyft by 3.7% in the 1st quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock valued at $290,000 after purchasing an additional 868 shares during the last quarter. Amalgamated Bank increased its position in Lyft by 4.0% in the 1st quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock valued at $277,000 after acquiring an additional 892 shares during the period. Main Street Financial Solutions LLC increased its position in Lyft by 3.8% in the 2nd quarter. Main Street Financial Solutions LLC now owns 24,688 shares of the ride-sharing company’s stock valued at $389,000 after acquiring an additional 909 shares during the period. Creative Financial Designs Inc. ADV increased its position in Lyft by 11.3% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock valued at $107,000 after acquiring an additional 914 shares during the period. Finally, Parallel Advisors LLC increased its position in Lyft by 39.4% in the 2nd quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock valued at $65,000 after acquiring an additional 1,160 shares during the period. Institutional investors 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.