Lyft, Inc. (NASDAQ:LYFT) Receives $19.80 Consensus Target Price from Analysts

Lyft, Inc. (NASDAQ:LYFT) has been given a consensus rating of “Hold” by the thirty-seven ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.80.

Several equities research analysts have weighed in on the company. William Blair cut Lyft to a “market perform” rating in a research note on Wednesday, June 17th. Roth Capital reiterated a “buy” rating and issued a $25.00 price target (up from $23.00) on shares of Lyft in a research note on Monday, August 10th. Guggenheim reissued a “buy” rating on shares of Lyft in a report on Wednesday, June 10th. Wells Fargo & Company upped their price objective on Lyft from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Citigroup assumed coverage on Lyft in a research note on Wednesday, June 17th. They issued a “buy” rating on the stock.

Insiders Place Their Bets

In other news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the transaction, the chief financial officer owned 705,979 shares of the company’s stock, valued at approximately $9,594,254.61. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 36,214 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $16.14, for a total transaction of $584,493.96. Following the completion of the sale, the insider owned 817,517 shares in the company, valued at approximately $13,194,724.38. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 76,925 shares of company stock valued at $1,202,449. 0.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in Lyft during the 4th quarter worth $26,000. Plato Investment Management Ltd bought a new position in shares of Lyft during the second quarter worth about $27,000. Boreal Capital Management LLC bought a new stake in Lyft in the first quarter valued at approximately $31,000. Bessemer Group Inc. increased its position in Lyft by 1,851.9% during the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after purchasing an additional 2,500 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Lyft during the 4th quarter valued at approximately $40,000. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Down 0.2%

Shares of NASDAQ LYFT opened at $17.65 on Friday. The stock has a market capitalization of $6.68 billion, a P/E ratio of 2.57, a PEG ratio of 0.99 and a beta of 1.80. The stock’s fifty day moving average is $15.75 and its 200 day moving average is $14.50. Lyft has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. Sell-side analysts forecast that Lyft will post 0.73 earnings per share for the current fiscal year.

About Lyft

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.