Lyft, Inc. (NASDAQ:LYFT) to Post Q3 2024 Earnings of ($0.09) Per Share, Roth Capital Forecasts

Lyft, Inc. (NASDAQ:LYFT) – Equities researchers at Roth Capital lowered their Q3 2024 EPS estimates for shares of Lyft in a report issued on Wednesday, August 14th. Roth Capital analyst R. Kulkarni now expects that the ride-sharing company will earn ($0.09) per share for the quarter, down from their prior estimate of ($0.07). The consensus estimate for Lyft’s current full-year earnings is ($0.18) per share. Roth Capital also issued estimates for Lyft’s Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.17) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.18) EPS.

LYFT has been the topic of a number of other research reports. Citigroup dropped their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Roth Mkm dropped their price objective on shares of Lyft from $19.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday. Melius initiated coverage on shares of Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective on the stock. DA Davidson boosted their target price on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, Wedbush lowered their price target on shares of Lyft from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, nine 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 price target of $15.87.

Lyft Stock Up 3.6 %

Shares of LYFT stock opened at $11.20 on Friday. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The firm has a market capitalization of $4.52 billion, a PE ratio of -23.83 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. The stock’s 50-day simple moving average is $12.62 and its 200-day simple moving average is $15.29.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned ($0.14) EPS. The firm’s revenue was up 40.6% on a year-over-year basis.

Institutional Trading of Lyft

Large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its holdings in shares of Lyft by 15.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock worth $767,000 after purchasing an additional 5,184 shares during the last quarter. Swiss National Bank grew its holdings in Lyft by 2.0% in the 1st quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock valued at $13,218,000 after buying an additional 13,300 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Lyft by 163.9% in the 4th quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock worth $1,511,000 after acquiring an additional 62,623 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Lyft in the 1st quarter worth $470,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Lyft during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Transactions at Lyft

In related news, President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.81, for a total value of $41,430.00. Following the transaction, the president now directly owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Kristin Sverchek sold 3,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.81, for a total value of $41,430.00. Following the completion of the transaction, the president now directly owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 3,327 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $15.74, for a total value of $52,366.98. Following the completion of the transaction, the director now owns 921,294 shares in the company, valued at approximately $14,501,167.56. The disclosure for this sale can be found here. Insiders sold 33,333 shares of company stock valued at $518,714 over the last 90 days. Corporate insiders own 3.07% 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.