Lyft, Inc. (NASDAQ:LYFT) Receives $16.45 Average PT from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned a consensus rating of “Hold” from the thirty-eight ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, twenty-five have assigned a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.47.

Several analysts recently commented on the stock. Citigroup reissued an “overweight” rating on shares of Lyft in a research note on Wednesday, February 12th. UBS Group raised their price objective on Lyft from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial cut their target price on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Cantor Fitzgerald dropped their price target on Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Finally, Loop Capital reduced their price objective on shares of Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $16.64 on Monday. Lyft has a 1 year low of $8.93 and a 1 year high of $19.07. The firm has a market cap of $6.96 billion, a P/E ratio of 277.33, a PEG ratio of 1.90 and a beta of 2.14. The stock has a fifty day moving average price of $11.84 and a two-hundred day moving average price of $13.59. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). Lyft had a return on equity of 8.03% and a net margin of 0.39%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the firm earned $0.15 earnings per share. Lyft’s revenue was up 13.5% on a year-over-year basis. Research analysts forecast that Lyft will post 0.22 EPS for the current fiscal year.

Lyft declared that its board has approved a share buyback plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the sale, the insider now directly owns 959,697 shares in the company, valued at approximately $11,948,227.65. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,143 shares of company stock worth $486,841. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Amalgamated Bank raised its stake in Lyft by 4.0% during the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock worth $277,000 after acquiring an additional 892 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Lyft by 3.8% during the 4th quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock worth $316,000 after purchasing an additional 903 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Lyft by 11.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock valued at $107,000 after purchasing an additional 914 shares during the last quarter. Guggenheim Capital LLC boosted its position in Lyft by 6.4% in the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock valued at $207,000 after buying an additional 970 shares in the last quarter. Finally, US Bancorp DE grew its stake in Lyft by 2.6% during the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock worth $536,000 after buying an additional 1,045 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.