Lyft, Inc. (NASDAQ:LYFT) Receives Average Rating of “Hold” from Brokerages

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given an average rating of “Hold” by the thirty-eight research firms that are covering the firm, Marketbeat Ratings reports. Twenty-seven investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $17.84.

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and issued a $23.00 price objective (up from $17.00) on shares of Lyft in a report on Thursday, November 7th. Jefferies Financial Group boosted their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, DA Davidson lifted their target price on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th.

Lyft Trading Down 3.8 %

Shares of Lyft stock opened at $13.43 on Friday. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -83.94, a PEG ratio of 1.74 and a beta of 2.14. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $14.63 and its 200-day moving average price is $13.43.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share. On average, equities analysts expect that Lyft will post 0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. The trade was a 3.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,242 shares of company stock worth $427,330 in the last quarter. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC bought a new position in Lyft during the 3rd quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Lyft during the 4th quarter valued at about $29,000. ORG Wealth Partners LLC bought a new position in Lyft during the 4th quarter valued at about $31,000. Byrne Asset Management LLC bought a new position in Lyft during the 4th quarter valued at about $35,000. Finally, Capital Performance Advisors LLP bought a new position in Lyft during the 3rd quarter valued at about $38,000. Institutional investors own 83.07% of the company’s stock.

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.