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

Lyft, Inc. (NASDAQ:LYFT) has been assigned a consensus recommendation of “Hold” from the thirty-seven brokerages that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.4333.

A number of research firms have commented on LYFT. Canaccord Genuity Group lowered their target price 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. Royal Bank Of Canada cut their price target on Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a research report on Wednesday, May 6th. Morgan Stanley lifted their price objective on Lyft from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Guggenheim reiterated a “buy” rating on shares of Lyft in a report on Wednesday, June 10th.

Insider Buying and Selling

In related news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 that occurred on Wednesday, May 27th. The stock was 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 in the company, valued at $414,065.92. The trade was a 6.50% 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. Insiders have sold a total of 45,535 shares of company stock valued at $637,456 over the last 90 days. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Lyft by 7.4% in the 3rd quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock valued at $567,492,000 after buying an additional 1,773,438 shares during the period. Renaissance Technologies LLC increased its position in shares of Lyft by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after buying an additional 1,320,938 shares in the last quarter. Altshuler Shaham Ltd raised its stake in Lyft by 51.6% during the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after buying an additional 2,607,417 shares during the period. Dimensional Fund Advisors LP raised its stake in Lyft by 58.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after buying an additional 2,467,010 shares during the period. Finally, Norges Bank bought a new position in Lyft during the fourth quarter worth about $109,987,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $15.86 on Wednesday. Lyft has a 1 year low of $12.46 and a 1 year high of $25.54. The firm’s 50-day moving average is $14.66 and its 200-day moving average is $14.59. 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 firm has a market capitalization of $6.02 billion, a PE ratio of 2.32, a price-to-earnings-growth ratio of 0.94 and a beta of 1.80.

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

About Lyft

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.