Lyft, Inc. (NASDAQ:LYFT) Given Consensus Rating of “Hold” by Brokerages

Lyft, Inc. (NASDAQ:LYFT) has been given an average recommendation of “Hold” by the thirty-eight research firms that are presently covering the company, MarketBeat Ratings reports. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $17.84.

LYFT has been the topic of several analyst reports. Barclays increased their price objective on shares of Lyft from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. TD Cowen increased their price objective on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Bank of America decreased their target price on shares of Lyft from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their target price on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, Cantor Fitzgerald raised their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Lyft Stock Down 3.8 %

Shares of LYFT opened at $13.43 on Friday. The firm has a market capitalization of $5.57 billion, a P/E ratio of -83.94, a P/E/G ratio of 1.74 and a beta of 2.14. The company has a 50-day simple moving average of $14.63 and a 200-day simple moving average of $13.43. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

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

Insiders Place Their Bets

In related news, Director Logan Green sold 10,919 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction 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 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 4,242 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the transaction, the insider now owns 755,847 shares in the company, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock valued at $427,330 in the last ninety days. 3.07% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Several institutional investors have recently made changes to their positions in LYFT. True Wealth Design LLC bought a new position in Lyft during the third quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Lyft during the fourth quarter valued at about $29,000. ORG Wealth Partners LLC bought a new position in Lyft during the fourth quarter valued at about $31,000. Byrne Asset Management LLC bought a new position in Lyft during the fourth quarter valued at about $35,000. Finally, Capital Performance Advisors LLP bought a new position in Lyft during the third quarter valued at about $38,000. Institutional investors own 83.07% 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.