Brokerages Set Lyft, Inc. (NASDAQ:LYFT) PT at $17.23

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given a consensus rating of “Hold” by the thirty-eight brokerages that are currently covering the company, MarketBeat Ratings reports. Twenty-eight equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $17.48.

A number of analysts have recently weighed in on LYFT shares. Truist Financial increased their price target on Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. BMO Capital Markets increased their price objective on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. DA Davidson increased their price objective on Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup decreased their price target on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Roth Mkm increased their price target on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Lyft Trading Up 1.1 %

Shares of NASDAQ LYFT opened at $18.12 on Monday. The stock’s 50 day moving average price is $13.50 and its two-hundred day moving average price is $13.58. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The stock has a market capitalization of $7.43 billion, a P/E ratio of -114.81, a PEG ratio of 5.16 and a beta of 2.04. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. On average, analysts anticipate that Lyft will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the sale, the chief accounting officer now directly owns 332,243 shares in the company, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,987 shares of company stock valued at $619,025 over the last three months. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently made changes to their positions in LYFT. Allspring Global Investments Holdings LLC acquired a new stake in Lyft during the first quarter worth about $41,000. True Wealth Design LLC acquired a new stake in Lyft during the third quarter worth about $27,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft during the second quarter worth about $35,000. International Assets Investment Management LLC acquired a new stake in Lyft during the second quarter worth about $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in Lyft during the third quarter worth about $38,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.