Brokerages Set Lyft, Inc. (NASDAQ:LYFT) Price Target at $19.28

Shares of Lyft, Inc. (NASDAQ:LYFT) have received a consensus recommendation of “Hold” from the thirty-three research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.8276.

A number of equities research analysts have recently commented on LYFT shares. Piper Sandler reaffirmed an “overweight” rating on shares of Lyft in a research report on Wednesday, February 11th. UBS Group reaffirmed a “neutral” rating on shares of Lyft in a research report on Monday, February 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Wednesday, February 11th. Royal Bank Of Canada decreased their price objective on Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, Oppenheimer set a $20.00 price objective on Lyft in a report on Friday, May 8th.

Lyft Trading Up 1.0%

NASDAQ LYFT opened at $13.48 on Friday. The firm has a market cap of $5.12 billion, a P/E ratio of 1.97, a P/E/G ratio of 0.83 and a beta of 1.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s 50-day moving average is $13.69 and its 200-day moving average is $16.76. Lyft has a one year low of $12.46 and a one year high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. Sell-side analysts anticipate that Lyft will post 0.66 earnings per share for the current fiscal year.

Lyft declared that its board has initiated a share buyback program on Tuesday, February 10th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the ride-sharing company to repurchase up to 15.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 5,284 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $13.83, for a total transaction of $73,077.72. Following the completion of the transaction, the chief accounting officer directly owned 300,570 shares in the company, valued at approximately $4,156,883.10. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 23,661 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $13.30, for a total value of $314,691.30. Following the transaction, the insider owned 696,850 shares of the company’s stock, valued at approximately $9,268,105. The trade was a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 54,699 shares of company stock worth $771,756. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Lyft in the 4th quarter valued at about $26,000. Boreal Capital Management LLC bought a new position in shares of Lyft in the 1st quarter valued at about $31,000. Quent Capital LLC bought a new stake in Lyft during the third quarter worth about $34,000. Bessemer Group Inc. raised its holdings in Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Lyft during the fourth quarter worth about $40,000. 83.07% of the stock is currently owned by institutional investors.

Lyft News Roundup

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: RBC said Lyft remains on “stable competitive footing,” suggesting the company still has a defensible position even as investors worry about slower U.S. ride growth. Lyft’s Competitive Position Remains Stable Despite Growth Concerns, RBC Says
• Neutral Sentiment: Lyft and Waymo are preparing to expand autonomous vehicle operations in Nashville, which could support long-term growth if the rollout goes smoothly. Lyft Fraud Scare And Nashville AV Rollout Test Investor Confidence
• Negative Sentiment: Multiple reports say a Lyft driver used AI-generated images to falsely claim damage fees from riders, including a $75 charge, which raises concerns about fraud prevention, rider protection, and Lyft’s ability to police misconduct on its platform. Lyft driver caught using fake AI damage photos to charge Boca Raton dad a fee

Lyft Company Profile

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.