Lyft, Inc. (NASDAQ:LYFT) Stock Has Consensus Target Price of $19.03 According to Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT – Get Free Report) have been assigned an average rating of “Hold” from the thirty-nine ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $19.03.

A number of brokerages have issued reports on LYFT. William Blair cut Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Piper Sandler reissued an “overweight” rating and issued a $21.00 price target (up from $20.00) on shares of Lyft in a research report on Friday, August 7th. Jefferies Financial Group boosted their price objective 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. Morgan Stanley upped their price objective on shares of Lyft from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a report on Friday, August 7th.

Get Our Latest Research Report on Lyft

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Llewellyn sold 36,214 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $16.14, for a total transaction of $584,493.96. Following the completion of the sale, the insider directly owned 817,517 shares in the company, valued at $13,194,724.38. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.33, for a total value of $79,943.29. Following the completion of the sale, the director directly owned 119,124 shares in the company, valued at approximately $2,064,418.92. This represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 112,020 shares of company stock worth $1,850,559. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several large investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in Lyft in the 2nd quarter valued at approximately $27,000. Boreal Capital Management LLC bought a new position in Lyft in the 1st quarter worth approximately $31,000. Bessemer Group Inc. increased its position 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 worth $35,000 after buying an additional 2,500 shares during the period. Ascentis Independent Advisors acquired a new position in shares of Lyft during the first quarter worth approximately $43,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Lyft by 47.0% during the first quarter. Parallel Advisors LLC now owns 4,650 shares of the ride-sharing company’s stock worth $62,000 after buying an additional 1,487 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 0.6%

LYFT stock opened at $16.48 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54. The firm has a 50 day moving average of $16.27 and a two-hundred day moving average of $15.03.

Lyft (NASDAQ:LYFT – Get Free Report) last released 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). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Lyft will post 0.79 earnings per share for the current year.

About Lyft

(Get Free Report)

Lyft, Inc is a technology company that operates a transportation platform in the United States and Canada. Through its mobile application and website, Lyft connects riders with drivers who provide on-demand and scheduled transportation services, including rides in private vehicles and taxis.

The company also offers a range of related services, such as bikes and scooters in select markets, airport transportation, business travel programs and tools for organizations managing transportation.

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Analyst Recommendations for Lyft (NASDAQ:LYFT)

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