Lyft (NASDAQ:LYFT) Stock Rating Reaffirmed by Needham & Company LLC

Lyft (NASDAQ:LYFT)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a report released on Wednesday, Benzinga reports.

Other research analysts have also issued research reports about the stock. TD Cowen upped their price objective on shares of Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a research report on Monday, January 22nd. Citigroup lifted their target price on shares of Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group cut shares of Lyft from a “buy” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $15.00 in a research note on Thursday, January 11th. UBS Group upped their price objective on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Moffett Nathanson upgraded Lyft from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.16.

Lyft Stock Performance

Shares of LYFT opened at $16.60 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. Lyft has a one year low of $7.85 and a one year high of $20.82. The company’s fifty day moving average price is $17.75 and its 200 day moving average price is $14.58. The company has a market capitalization of $6.64 billion, a PE ratio of -18.65 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. As a group, analysts expect that Lyft will post -0.35 earnings per share for the current year.

Insider Activity at Lyft

In other Lyft news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the transaction, the president now directly owns 60,778 shares in the company, valued at approximately $1,063,615. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the sale, the president now owns 60,778 shares in the company, valued at approximately $1,063,615. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 15,724 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the transaction, the director now owns 1,204,071 shares in the company, valued at $21,083,283.21. The disclosure for this sale can be found here. Insiders have sold a total of 280,526 shares of company stock worth $5,358,031 over the last 90 days. Insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Lyft by 5.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock valued at $336,000 after purchasing an additional 1,535 shares in the last quarter. Xponance Inc. increased its position in shares of Lyft by 10.9% during the third quarter. Xponance Inc. now owns 49,200 shares of the ride-sharing company’s stock worth $519,000 after acquiring an additional 4,821 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Lyft by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 2,459,043 shares of the ride-sharing company’s stock worth $25,918,000 after acquiring an additional 27,928 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lyft by 16.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,727 shares of the ride-sharing company’s stock valued at $703,000 after acquiring an additional 9,663 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Lyft by 87.6% during the third quarter. Fifth Third Bancorp now owns 24,270 shares of the ride-sharing company’s stock worth $256,000 after buying an additional 11,330 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.