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

Lyft, Inc. (NASDAQ:LYFT) has been assigned a consensus recommendation of “Hold” from the thirty-eight ratings firms that are currently covering the company, MarketBeat.com reports. Twenty-eight equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.77.

A number of equities research analysts have recently issued reports on LYFT shares. Jefferies Financial Group upped their target price on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Raymond James initiated coverage on Lyft in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Nomura Securities upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Roth Mkm upped their price target on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Insider Transactions at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following 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. Over the last three months, insiders have sold 26,666 shares of company stock worth $454,770. Insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Lyft by 26.4% in the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after purchasing an additional 1,457 shares during the last quarter. Comerica Bank boosted its position in Lyft by 310.3% during the first quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after acquiring an additional 77,578 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Lyft during the 2nd quarter worth about $388,000. New York State Teachers Retirement System bought a new position in shares of Lyft in the 3rd quarter worth about $423,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Lyft in the 2nd quarter valued at about $3,349,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $14.85 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $15.24 and a 200 day moving average price of $13.59. The stock has a market capitalization of $6.16 billion, a PE ratio of -92.81, a price-to-earnings-growth ratio of 4.62 and a beta of 2.09. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. Analysts predict that Lyft will post 0.08 earnings per share for the current fiscal year.

Lyft Company Profile

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.