Lyft, Inc. (NASDAQ:LYFT) Receives Consensus Rating of “Hold” from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned a consensus recommendation of “Hold” from the thirty-seven research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.80.

Several analysts recently issued reports on the company. Truist Financial upped their target price on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a research note on Monday, August 3rd. Susquehanna reaffirmed a “neutral” rating and set a $18.00 price target on shares of Lyft in a research report on Monday, August 10th. Canaccord Genuity Group upped their price objective on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Finally, Cantor Fitzgerald upped their target price on shares of Lyft from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 7th.

Insider Transactions at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 36,214 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $16.14, for a total transaction of $584,493.96. Following the completion of the sale, the insider owned 817,517 shares in the company, valued at approximately $13,194,724.38. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $17.63, for a total transaction of $264,450.00. Following the sale, the chief financial officer owned 852,303 shares of the company’s stock, valued at $15,026,101.89. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 97,405 shares of company stock worth $1,563,785. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in shares of Lyft by 7.4% in the third 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 in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Lyft by 15.4% during the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock worth $191,245,000 after buying an additional 1,320,938 shares in the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of Lyft by 51.6% in the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after acquiring an additional 2,607,417 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $89,360,000 after purchasing an additional 2,467,010 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Lyft by 1,333.6% during the 2nd quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company’s stock worth $94,108,000 after purchasing an additional 5,992,016 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Lyft Stock Down 0.2%

Shares of LYFT stock opened at $17.35 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. Lyft has a 1 year low of $12.46 and a 1 year high of $25.54. The firm’s fifty day moving average price is $15.87 and its two-hundred day moving average price is $14.52. The firm has a market capitalization of $6.57 billion, a P/E ratio of 2.52, a PEG ratio of 1.07 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities analysts predict that Lyft will post 0.73 EPS 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.