Lyft, Inc. (NASDAQ:LYFT) Receives $17.77 Consensus Target Price from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned a consensus rating of “Hold” from the thirty-eight brokerages that are presently covering the company, MarketBeat Ratings reports. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $17.77.

Several brokerages have recently weighed in on LYFT. Raymond James assumed coverage on shares of Lyft in a report on Tuesday, September 24th. They set a “market perform” rating on the stock. Evercore ISI raised their price objective on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Loop Capital upped their target price on Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson lifted their price target on shares of Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Roth Mkm upped 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.

Insider Activity at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the sale, the insider now directly owns 755,847 shares in the company, valued at $13,423,842.72. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 314,492 shares of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,242 shares of company stock worth $427,330. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Lyft by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock worth $230,174,000 after buying an additional 80,675 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after purchasing an additional 1,735,208 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Lyft in the third quarter worth approximately $90,604,000. Primecap Management Co. CA raised its stake in Lyft by 3.8% in the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock valued at $82,768,000 after purchasing an additional 235,510 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its position in Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock valued at $78,872,000 after purchasing an additional 2,838,000 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 4.5 %

Shares of Lyft stock opened at $14.27 on Tuesday. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of -89.19, a PEG ratio of 4.10 and a beta of 2.09. The stock’s 50-day moving average is $15.42 and its 200 day moving average is $13.42. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS 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 company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted ($0.02) EPS. The company’s quarterly revenue was up 31.6% on a year-over-year basis. Equities research analysts anticipate that Lyft will post 0.08 EPS for the current year.

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.