Lyft, Inc. (NASDAQ:LYFT) Receives $14.60 Average PT from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have received an average rating of “Hold” from the twenty-three brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seventeen have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $14.60.

LYFT has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $15.00 in a report on Thursday, January 11th. Royal Bank of Canada upgraded shares of Lyft from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $17.00 to $23.00 in a research note on Monday, March 4th. Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, March 5th. TD Cowen lifted their price target on shares of Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a research note on Monday, January 22nd. Finally, Tigress Financial lifted their price objective on shares of Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 18th.

Lyft Price Performance

Shares of LYFT stock opened at $15.86 on Thursday. Lyft has a 52-week low of $7.85 and a 52-week high of $20.82. The stock has a market cap of $6.34 billion, a PE ratio of -17.82 and a beta of 1.98. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day moving average price is $17.68 and its two-hundred day moving average price is $14.37.

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

Insider Activity

In other news, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John Patrick Zimmer sold 15,724 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total transaction of $275,327.24. Following the completion of the transaction, the director now directly owns 1,204,071 shares in the company, valued at approximately $21,083,283.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total transaction of $85,163.40. Following the sale, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,526 shares of company stock worth $5,195,771. 3.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares in the last quarter. Commerce Bank boosted its position in Lyft by 2.9% during the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock worth $414,000 after buying an additional 782 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in Lyft by 21.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock worth $68,000 after acquiring an additional 814 shares during the last quarter. CWM LLC increased its position in Lyft by 15.4% in the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after acquiring an additional 1,093 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Lyft by 1.4% during the third quarter. Arizona State Retirement System now owns 94,693 shares of the ride-sharing company’s stock valued at $998,000 after acquiring an additional 1,291 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

About Lyft

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.