Brokerages Set Lyft, Inc. (NASDAQ:LYFT) PT at $22.76

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given a consensus recommendation of “Hold” by the thirty-four analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.7581.

A number of analysts have weighed in on LYFT shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lyft from $21.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. DA Davidson set a $22.00 price objective on Lyft in a research report on Thursday, November 6th. Evercore increased their target price on Lyft from $15.00 to $30.00 and gave the company an “in-line” rating in a research report on Thursday, November 6th. Roth Mkm set a $25.00 price target on Lyft and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Lyft in a research note on Thursday, November 6th.

Insider Transactions at Lyft

In other Lyft news, CAO Stephen W. Hope sold 4,800 shares of Lyft stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total value of $107,040.00. Following the completion of the sale, the chief accounting officer directly owned 311,909 shares of the company’s stock, valued at approximately $6,955,570.70. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John David Risher purchased 5,030 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were acquired at an average price of $19.80 per share, with a total value of $99,594.00. Following the purchase, the chief executive officer directly owned 11,802,296 shares in the company, valued at $233,685,460.80. This represents a 0.04% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 187,443 shares of company stock worth $4,178,618. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Amalgamated Bank raised its holdings in Lyft by 2.5% during the 3rd quarter. Amalgamated Bank now owns 21,652 shares of the ride-sharing company’s stock valued at $477,000 after acquiring an additional 534 shares during the period. Brown Brothers Harriman & Co. grew its position in 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 buying an additional 639 shares in the last quarter. CI Investments Inc. increased its stake in Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 653 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Lyft by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after acquiring an additional 681 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC raised its stake in Lyft by 4.3% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after purchasing an additional 756 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT opened at $16.46 on Wednesday. The company has a market cap of $6.57 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 0.99 and a beta of 1.93. The firm has a 50-day moving average of $19.25 and a 200-day moving average of $18.99. Lyft has a one year low of $9.66 and a one year high of $25.54. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.72.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Lyft’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Lyft will post 0.22 earnings per share 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.