Lyft, Inc. (NASDAQ:LYFT – Get Free Report)’s share price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $16.21 and traded as low as $15.84. Lyft shares last traded at $16.16, with a volume of 8,110,372 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on LYFT. Wells Fargo & Company decreased their target price on shares of Lyft from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Roth Capital reiterated a “buy” rating and set a $25.00 price target (up from $23.00) on shares of Lyft in a report on Monday, August 10th. Rosenblatt Securities started coverage on shares of Lyft in a research report on Tuesday, September 1st. They issued a “neutral” rating and a $19.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Lyft in a research report on Monday, August 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $21.00 price objective (up from $20.00) on shares of Lyft in a research note on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.20.
Read Our Latest Research Report on LYFT
Lyft Stock Performance
The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $6.12 billion, a PE ratio of 2.35, a price-to-earnings-growth ratio of 1.00 and a beta of 1.95. The firm has a fifty day moving average price of $16.21 and a 200 day moving average price of $15.16.
Lyft (NASDAQ:LYFT – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%. Lyft’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Research analysts forecast that Lyft, Inc. will post 0.81 earnings per share for the current fiscal year.
Insider Buying and Selling at Lyft
In related news, Director David Lawee sold 4,613 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total transaction of $79,943.29. Following the completion of the transaction, the director owned 119,124 shares of the company’s stock, valued at $2,064,418.92. This trade represents a 3.73% decrease in their ownership of the stock. 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, insider Lindsay Llewellyn sold 13,204 shares of Lyft stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $16.64, for a total value of $219,714.56. Following the transaction, the insider owned 781,152 shares of the company’s stock, valued at $12,998,369.28. The trade was a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 112,020 shares of company stock worth $1,850,559. 0.92% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LYFT. Plato Investment Management Ltd purchased a new position in shares of Lyft in the second quarter valued at approximately $27,000. Boreal Capital Management LLC acquired a new stake in Lyft in the 1st quarter valued at about $31,000. Bessemer Group Inc. raised its holdings in Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after acquiring an additional 2,500 shares during the last quarter. Signaturefd LLC lifted its stake in Lyft by 166.5% in the 3rd quarter. Signaturefd LLC now owns 2,593 shares of the ride-sharing company’s stock worth $39,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new position in Lyft in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.
About Lyft
Lyft, Inc is a technology company that operates a transportation network platform in the United States and Canada. Its platform connects passengers with drivers through a mobile application and website, primarily offering on-demand rides in private vehicles, taxis and other transportation options.
The company also provides access to bicycles and scooters in select markets, as well as vehicle rentals and transportation solutions for businesses, healthcare organizations and other institutions.
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