Lyft, Inc. (NASDAQ:LYFT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have received an average recommendation of “Hold” from the twenty-three brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $14.60.

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Barclays lifted their price objective on Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Wedbush reissued a “neutral” rating and issued a $15.00 target price (up from $14.00) on shares of Lyft in a research note on Wednesday, February 14th. Nomura cut Lyft from a “neutral” rating to a “reduce” rating and boosted their target price for the company from $11.70 to $13.00 in a research note on Friday, December 29th. Finally, TD Cowen boosted their target price on Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a research note on Monday, January 22nd.

Lyft Trading Down 3.4 %

Shares of LYFT opened at $16.34 on Thursday. The stock has a fifty day moving average price of $17.83 and a two-hundred day moving average price of $14.18. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. Lyft has a 52-week low of $7.85 and a 52-week high of $20.82. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -18.36 and a beta of 1.98.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Analysts predict that Lyft will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the sale, the director now owns 932,544 shares in the company, valued at $18,688,181.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the sale, the president now owns 633,950 shares in the company, valued at $9,521,929. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Insiders have sold 270,526 shares of company stock worth $5,195,771 over the last 90 days. Company insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Lyft by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 32,116,655 shares of the ride-sharing company’s stock valued at $481,429,000 after purchasing an additional 659,133 shares during the last quarter. Norges Bank acquired a new stake in Lyft during the fourth quarter worth approximately $94,687,000. Jacobs Levy Equity Management Inc. grew its position in Lyft by 5.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after buying an additional 300,982 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Lyft by 21.3% in the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock valued at $46,647,000 after purchasing an additional 778,563 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after purchasing an additional 141,823 shares in the last quarter. Institutional investors and hedge funds 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.