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

Lyft, Inc. (NASDAQ:LYFT) has received an average rating of “Hold” from the thirty-six analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $22.6719.

LYFT has been the subject of several research reports. Wells Fargo & Company lifted their price target on Lyft from $20.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 9th. Cantor Fitzgerald decreased their price target on shares of Lyft from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Truist Financial lifted their price objective on shares of Lyft from $16.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Lyft in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price target on Lyft from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th.

Insider Activity

In other Lyft news, Director Jill Beggs sold 1,466 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $20.25, for a total transaction of $29,686.50. Following the sale, the director directly owned 34,278 shares in the company, valued at $694,129.50. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Lawee sold 6,578 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total transaction of $148,333.90. Following the completion of the transaction, the director directly owned 104,460 shares in the company, valued at approximately $2,355,573. This represents a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 187,443 shares of company stock worth $4,178,618. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its stake in shares of Lyft by 71.7% in the first quarter. Advisors Asset Management Inc. now owns 10,850 shares of the ride-sharing company’s stock worth $129,000 after purchasing an additional 4,531 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Lyft during the 1st quarter worth about $607,000. Empowered Funds LLC grew its position in shares of Lyft by 13.7% in the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after buying an additional 2,921 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Lyft in the first quarter valued at about $104,000. Finally, Focus Partners Wealth raised its position in shares of Lyft by 44.0% during the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after acquiring an additional 15,621 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Trading Down 2.9%

LYFT stock opened at $18.33 on Friday. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 1.20 and a beta of 1.94. The company has a fifty day moving average price of $20.52 and a two-hundred day moving average price of $18.78. Lyft has a one year low of $9.66 and a one year high of $25.54. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. Equities analysts anticipate that Lyft will post 0.22 EPS for the current year.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.