Lyft (NASDAQ:LYFT) Receives New Coverage from Analysts at Melius Research

Melius Research assumed coverage on shares of Lyft (NASDAQ:LYFT) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage issued a hold rating and a $15.00 target price on the ride-sharing company’s stock.

Other research analysts also recently issued research reports about the company. Wolfe Research started coverage on Lyft in a research note on Tuesday, July 16th. They issued a peer perform rating for the company. BMO Capital Markets lifted their price target on Lyft from $18.00 to $19.00 and gave the company a market perform rating in a research report on Friday, June 7th. The Goldman Sachs Group lifted their price target on Lyft from $19.00 to $21.00 and gave the company a neutral rating in a research report on Friday, June 7th. Gordon Haskett upgraded Lyft from a hold rating to a buy rating and lifted their price target for the company from $17.00 to $20.00 in a research report on Friday, June 7th. Finally, Needham & Company LLC reiterated a hold rating on shares of Lyft in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lyft presently has a consensus rating of Hold and an average target price of $18.04.

Lyft Trading Down 1.4 %

Shares of Lyft stock opened at $12.21 on Monday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $4.93 billion, a PE ratio of -25.98 and a beta of 2.06. Lyft has a 1 year low of $8.85 and a 1 year high of $20.82. The stock has a fifty day moving average price of $14.21 and a 200-day moving average price of $15.51.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. Equities research analysts anticipate that Lyft will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other Lyft news, President Kristin Sverchek sold 6,500 shares of Lyft stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total value of $101,010.00. Following the transaction, the president now directly owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lyft news, President Kristin Sverchek sold 6,500 shares of Lyft stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total value of $101,010.00. Following the transaction, the president now directly owns 64,278 shares of the company’s stock, valued at approximately $998,880.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 7,923 shares of Lyft stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $16.54, for a total value of $131,046.42. Following the completion of the transaction, the director now directly owns 924,621 shares in the company, valued at $15,293,231.34. The disclosure for this sale can be found here. Insiders have sold 43,333 shares of company stock valued at $680,974 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Large investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC grew its position in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 1,000 shares during the last quarter. Allworth Financial LP grew its position in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 1,672 shares during the last quarter. a16z Perennial Management L.P. bought a new stake in shares of Lyft in the 4th quarter worth approximately $34,000. Kapitalo Investimentos Ltda bought a new stake in shares of Lyft in the 4th quarter worth approximately $34,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Lyft in the 4th quarter worth approximately $40,000. 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.