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

Shares of Lyft, Inc. (NASDAQ:LYFTGet Free Report) have received a consensus rating of “Hold” from the thirty-seven research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, twenty-one have issued a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $19.4333.

LYFT has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Jefferies Financial Group increased their price target on shares of Lyft from $15.00 to $15.50 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Guggenheim reiterated a “buy” rating on shares of Lyft in a report on Wednesday, June 10th. Zacks Research cut shares of Lyft from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a report on Wednesday, May 6th.

View Our Latest Stock Report on Lyft

Lyft Stock Performance

Shares of LYFT opened at $16.73 on Wednesday. Lyft has a 12-month low of $12.46 and a 12-month high of $25.54. The stock has a market cap of $6.35 billion, a P/E ratio of 2.44, a PEG ratio of 0.97 and a beta of 1.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $14.78 and a two-hundred day moving average of $14.56.

Lyft (NASDAQ:LYFTGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.26). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 earnings per share. As a group, research analysts predict that Lyft will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the sale, the insider directly owned 853,731 shares of the company’s stock, valued at approximately $12,805,965. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the completion of the transaction, the chief financial officer owned 705,979 shares in the company, valued at $9,594,254.61. This represents a 2.08% decrease in their position. 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. Insiders have sold 45,535 shares of company stock valued at $637,456 in the last ninety days. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors have recently modified their holdings of LYFT. Empowered Funds LLC lifted its holdings in Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after acquiring an additional 2,921 shares during the last quarter. Focus Partners Wealth raised its position in shares of Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after purchasing an additional 15,621 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Lyft during the 2nd quarter worth approximately $470,000. Invesco Ltd. lifted its holdings in shares of Lyft by 87.5% in the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after purchasing an additional 497,118 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Lyft by 12.6% in the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after purchasing an additional 79,634 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

About Lyft

(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.

See Also

Analyst Recommendations for Lyft (NASDAQ:LYFT)

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