Lyft (NASDAQ:LYFT) Announces Quarterly Earnings Results, Beats Estimates By $0.63 EPS


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Lyft (NASDAQ:LYFT) released its quarterly earnings results on Tuesday. The ride-sharing company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.98) by $0.63, MarketWatch Earnings reports. Lyft had a negative net margin of 58.70% and a negative return on equity of 60.70%. The business had revenue of $609.00 million for the quarter, compared to analyst estimates of $554.70 million. During the same period in the previous year, the company earned ($1.31) earnings per share. The business’s revenue for the quarter was down 36.3% on a year-over-year basis.

Lyft stock opened at $56.19 on Wednesday. The firm has a 50 day simple moving average of $62.71 and a 200-day simple moving average of $50.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $18.48 billion, a PE ratio of -10.46 and a beta of 2.35. Lyft has a 12-month low of $21.34 and a 12-month high of $68.28.

LYFT has been the subject of a number of research reports. Stifel Nicolaus restated a “hold” rating and set a $60.00 target price (up from $55.00) on shares of Lyft in a research report on Wednesday. Needham & Company LLC assumed coverage on Lyft in a research report on Monday. They set a “hold” rating on the stock. MKM Partners boosted their price target on shares of Lyft from $37.00 to $58.00 in a research note on Wednesday, February 10th. Susquehanna raised their price target on Lyft from $45.00 to $80.00 and gave the company a “positive” rating in a research note on Wednesday, February 10th. Finally, BTIG Research lifted their price objective on Lyft from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $67.69.

In other Lyft news, Director David Lawee sold 115,537 shares of the stock in a transaction that occurred on Tuesday, April 27th. The shares were sold at an average price of $65.20, for a total value of $7,533,012.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Kristin Sverchek sold 5,000 shares of the stock in a transaction on Friday, February 26th. The stock was sold at an average price of $55.76, for a total transaction of $278,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,812,506 shares of company stock valued at $311,387,156. Company insiders own 22.86% of the company’s stock.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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Earnings History for Lyft (NASDAQ:LYFT)

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