Brokerages Set Lyft, Inc. (NASDAQ:LYFT) PT at $18.83

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given a consensus recommendation of “Hold” by the thirty-three ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.8276.

LYFT has been the subject of a number of analyst reports. Mizuho lowered their price target on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Oppenheimer set a $20.00 price target on Lyft in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Truist Financial raised their price target on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Finally, Guggenheim restated a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the sale, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the completion of the sale, the insider owned 853,731 shares of the company’s stock, valued at approximately $12,805,965. This represents a 1.33% 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. Insiders sold a total of 54,196 shares of company stock worth $788,521 over the last three months. 0.92% of the stock is owned by insiders.

Institutional Trading of Lyft

Institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. lifted its position in shares of Lyft by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after purchasing an additional 639 shares during the last quarter. CI Investments Inc. lifted its position in shares of Lyft by 39.1% during the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after purchasing an additional 653 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Lyft by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock worth $248,000 after purchasing an additional 681 shares during the last quarter. Allegiance Financial Group Advisory Services LLC lifted its position in shares of Lyft by 4.3% during the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock worth $352,000 after purchasing an additional 756 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Lyft by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock worth $3,684,000 after purchasing an additional 771 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Trading Up 5.2%

LYFT stock opened at $14.24 on Tuesday. The firm has a fifty day moving average price of $13.91 and a 200 day moving average price of $15.84. Lyft has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $5.41 billion, a PE ratio of 2.08, a price-to-earnings-growth ratio of 0.80 and a beta of 1.82.

Lyft (NASDAQ:LYFT) last posted its 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 net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Sell-side analysts anticipate that Lyft will post 0.69 earnings per share for the current fiscal 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.