Lyft (NASDAQ:LYFT) Research Coverage Started at Melius

Melius assumed coverage on shares of Lyft (NASDAQ:LYFT) in a research note published on Monday morning, MarketBeat reports. The firm issued a hold rating and a $15.00 price target on the ride-sharing company’s stock.

A number of other analysts have also issued reports on the company. Gordon Haskett upgraded Lyft from a hold rating to a buy rating and increased their target price for the company from $17.00 to $20.00 in a report on Friday, June 7th. DA Davidson increased their target price on Lyft from $15.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, May 8th. Bank of America upgraded Lyft from an underperform rating to a buy rating and increased their target price for the company from $15.00 to $20.00 in a report on Friday, June 7th. Citigroup increased their target price on Lyft from $15.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, May 8th. Finally, Wedbush increased their target price on Lyft from $18.00 to $19.00 and gave the company a neutral rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $17.79.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $12.38 on Monday. Lyft has a one year low of $8.85 and a one year high of $20.82. The stock has a fifty day moving average of $14.31 and a 200-day moving average of $15.53. The company has a market capitalization of $5.00 billion, a PE ratio of -26.34 and a beta of 2.06. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.17 billion. As a group, equities analysts anticipate that Lyft will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total transaction of $142,330.61. Following the completion of the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lyft news, President Kristin Sverchek sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the sale, the president now directly owns 47,778 shares in the company, valued at $659,814.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total transaction of $142,330.61. Following the sale, the chief accounting officer now owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The disclosure for this sale can be found here. Insiders sold 43,333 shares of company stock worth $680,974 over the last ninety days. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after acquiring an additional 782,736 shares during the period. Norges Bank bought a new stake in shares of Lyft in the fourth quarter valued at about $94,687,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Lyft by 1.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after buying an additional 63,461 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lyft by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after buying an additional 141,823 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Lyft by 126.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock valued at $29,041,000 after buying an additional 1,080,009 shares during the period. 83.07% of the stock is currently owned by institutional investors.

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.