Lyft, Inc. (NASDAQ:LYFT) Given Average Recommendation of “Hold” by Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have earned an average rating of “Hold” from the thirty-six ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.6719.

A number of research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Lyft from $20.50 to $22.50 and gave the company an “equal weight” rating in a report on Monday, December 8th. Evercore ISI upped their target price on shares of Lyft from $15.00 to $30.00 and gave the company an “in-line” rating in a research note on Thursday, November 6th. Arete raised shares of Lyft from a “sell” rating to a “neutral” rating and raised their price target for the company from $10.00 to $20.00 in a report on Wednesday, December 3rd. Benchmark reiterated a “buy” rating on shares of Lyft in a research note on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lyft from $21.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, November 7th.

Insider Activity

In related news, CEO John David Risher bought 5,030 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average cost of $19.80 per share, with a total value of $99,594.00. Following the acquisition, the chief executive officer owned 11,802,296 shares in the company, valued at $233,685,460.80. This trade represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lawee sold 6,578 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $22.55, for a total value of $148,333.90. Following the completion of the transaction, the director directly owned 104,460 shares in the company, valued at $2,355,573. This trade represents a 5.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 187,443 shares of company stock worth $4,178,618. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently made changes to their positions in LYFT. Advisors Asset Management Inc. raised its stake in shares of Lyft by 71.7% in the first quarter. Advisors Asset Management Inc. now owns 10,850 shares of the ride-sharing company’s stock valued at $129,000 after acquiring an additional 4,531 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Lyft during the 1st quarter valued at about $607,000. Empowered Funds LLC raised its position in Lyft by 13.7% in the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after purchasing an additional 2,921 shares during the period. Bayforest Capital Ltd purchased a new stake in Lyft in the 1st quarter worth about $104,000. Finally, Focus Partners Wealth lifted its stake in Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after purchasing an additional 15,621 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Price Performance

LYFT opened at $19.21 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $7.67 billion, a PE ratio of 50.55, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94. The stock’s 50 day moving average price is $20.69 and its 200-day moving average price is $18.67. Lyft has a 52-week low of $9.66 and a 52-week high of $25.54.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. Lyft’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Lyft will post 0.22 EPS for the current year.

About Lyft

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.