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

Shares of Lyft, Inc. (NASDAQ:LYFTGet Free Report) have received an average recommendation of “Hold” from the thirty-three ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twenty-two have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.8276.

A number of equities analysts have recently commented on LYFT shares. Canaccord Genuity Group reduced their price objective on shares of Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a report on Friday, May 8th. Guggenheim reaffirmed a “buy” rating on shares of Lyft in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a report on Wednesday, May 6th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $23.00 price objective on shares of Lyft in a report on Friday, May 8th.

Check Out Our Latest Research Report on LYFT

Insider Transactions at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 23,661 shares of Lyft stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $354,915.00. Following the completion of the transaction, the insider directly owned 916,022 shares of the company’s stock, valued at $13,740,330. This trade represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the transaction, the director directly owned 30,092 shares of the company’s stock, valued at $414,065.92. This represents a 6.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 54,196 shares of company stock valued at $788,521. Company insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in Lyft by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock valued at $75,000 after purchasing an additional 639 shares during the last quarter. CI Investments Inc. lifted its holdings in Lyft by 39.1% during the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 653 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Lyft by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after purchasing an additional 681 shares during the last quarter. Allegiance Financial Group Advisory Services LLC lifted its holdings in Lyft by 4.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after purchasing an additional 756 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Lyft by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock valued at $3,684,000 after purchasing an additional 771 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Lyft Price Performance

Shares of Lyft stock opened at $13.54 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. Lyft has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The firm has a fifty day moving average price of $13.90 and a two-hundred day moving average price of $15.91. The company has a market cap of $5.14 billion, a PE ratio of 1.98, a price-to-earnings-growth ratio of 0.80 and a beta of 1.82.

Lyft (NASDAQ:LYFTGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.Lyft’s revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. Analysts expect that Lyft will post 0.69 EPS for the current year.

Lyft Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lyft (NASDAQ:LYFT)

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