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

Lyft, Inc. (NASDAQ:LYFT) has received an average rating of “Hold” from the twenty-three analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seventeen have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.60.

A number of analysts have recently weighed in on LYFT shares. Nomura lowered shares of Lyft from a “neutral” rating to a “reduce” rating and increased their target price for the stock from $11.70 to $13.00 in a report on Friday, December 29th. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $15.00 in a report on Thursday, January 11th. JPMorgan Chase & Co. increased their target price on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Wells Fargo & Company increased their target price on shares of Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, April 8th. Finally, BMO Capital Markets started coverage on shares of Lyft in a report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 target price for the company.

Lyft Stock Down 3.4 %

Shares of NASDAQ:LYFT opened at $16.34 on Thursday. The stock’s 50-day moving average price is $17.83 and its 200-day moving average price is $14.18. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The stock has a market capitalization of $6.53 billion, a P/E ratio of -18.36 and a beta of 1.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. On average, equities analysts anticipate that Lyft will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Lyft news, President Kristin Sverchek sold 16,000 shares of Lyft stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.00, for a total value of $320,000.00. Following the completion of the sale, the president now owns 80,978 shares of the company’s stock, valued at approximately $1,619,560. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Kristin Sverchek sold 16,000 shares of Lyft stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.00, for a total transaction of $320,000.00. Following the transaction, the president now owns 80,978 shares in the company, valued at approximately $1,619,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the transaction, the director now owns 932,544 shares in the company, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,526 shares of company stock valued at $5,195,771. Company insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LYFT. Vontobel Holding Ltd. lifted its stake in shares of Lyft by 8.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 24,819 shares of the ride-sharing company’s stock valued at $262,000 after buying an additional 1,860 shares in the last quarter. CWM LLC lifted its stake in Lyft by 72.6% in the 3rd quarter. CWM LLC now owns 7,097 shares of the ride-sharing company’s stock worth $75,000 after purchasing an additional 2,985 shares in the last quarter. AE Wealth Management LLC purchased a new stake in Lyft in the 3rd quarter worth $526,000. SG Americas Securities LLC lifted its stake in Lyft by 11.3% in the 3rd quarter. SG Americas Securities LLC now owns 55,465 shares of the ride-sharing company’s stock worth $585,000 after purchasing an additional 5,653 shares in the last quarter. Finally, Oak Thistle LLC purchased a new stake in Lyft in the 3rd quarter worth $397,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

About Lyft

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.