Lyft (NASDAQ:LYFT) Upgraded to Hold at Scotiabank

Lyft (NASDAQ:LYFT) was upgraded by equities researchers at Scotiabank to a “hold” rating in a report issued on Wednesday, Zacks reports.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Piper Sandler restated an “overweight” rating and issued a $21.00 price target (up from $20.00) on shares of Lyft in a research note on Friday, August 7th. Susquehanna reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of Lyft in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $17.00 price objective on shares of Lyft in a research report on Monday, August 10th. Finally, Canaccord Genuity Group increased their target price on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Lyft currently has an average rating of “Hold” and a consensus target price of $19.69.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $14.90 on Wednesday. The firm’s 50-day moving average price is $16.29 and its 200-day moving average price is $14.68. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. The company has a market cap of $5.64 billion, a PE ratio of 2.17, a PEG ratio of 1.11 and a beta of 1.83. Lyft has a 52-week low of $12.46 and a 52-week high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. As a group, analysts anticipate that Lyft will post 0.73 EPS for the current year.

Insider Activity

In related news, Director Janey Whiteside sold 5,480 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $17.68, for a total value of $96,886.40. Following the transaction, the director directly owned 60,704 shares of the company’s stock, valued at approximately $1,073,246.72. This trade represents a 8.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Llewellyn sold 13,204 shares of Lyft stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $16.64, for a total value of $219,714.56. Following the transaction, the insider owned 781,152 shares in the company, valued at $12,998,369.28. This trade represents a 1.66% 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. Over the last 90 days, insiders have sold 112,020 shares of company stock worth $1,834,809. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Junto Capital Management LP bought a new position in shares of Lyft in the second quarter worth about $36,926,000. WINTON GROUP Ltd purchased a new stake in Lyft in the 2nd quarter worth approximately $4,396,000. Engineers Gate Manager LP increased its holdings in Lyft by 270.3% in the 2nd quarter. Engineers Gate Manager LP now owns 457,534 shares of the ride-sharing company’s stock worth $6,685,000 after acquiring an additional 333,977 shares in the last quarter. Nykredit A S bought a new stake in Lyft during the 2nd quarter worth approximately $195,000. Finally, Corient Private Wealth LP raised its stake in Lyft by 45.3% during the 2nd quarter. Corient Private Wealth LP now owns 189,497 shares of the ride-sharing company’s stock worth $2,769,000 after acquiring an additional 59,041 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Key Stories Impacting Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Waymo partnership expands Lyft’s autonomous-vehicle opportunity. Waymo rides are now available through the Lyft app in Nashville, giving Lyft a role in distributing autonomous rides while potentially strengthening its long-term platform strategy. Waymo Rides Now Available on the Lyft App in Nashville
• Positive Sentiment: Lyft reaffirmed its third-quarter guidance. The company maintained its outlook for gross bookings, adjusted EBITDA and adjusted EBITDA margin, indicating that the CFO change was not accompanied by a reduction in operating expectations. Lyft Names New CFO, Reaffirms Q3 2026 Guidance
• Neutral Sentiment: Michael Brous will become CFO on September 28. Current CFO Erin Brewer is retiring from the role later this month and will remain an adviser through December 15. Brous is an internal promotion with extensive Lyft experience, which supports continuity but still creates near-term leadership uncertainty. Lyft Insider to Take CFO Seat Amid Robotaxi Push
• Neutral Sentiment: New analyst coverage of Lyft, Uber and DoorDash puts the companies in direct comparison, but the available report does not identify a clear Lyft-specific catalyst. Uber, DoorDash, or Lyft: Which Company Is Scotiabank Analyst Favoring?
• Negative Sentiment: The CFO transition overshadowed the reaffirmed outlook. Investors appear concerned about changing financial leadership, particularly alongside reports that insiders have sold shares without any reported purchases in the past six months. Lyft Slides as CFO Transition Overshadows Reaffirmed Outlook
• Negative Sentiment: A report that a Lyft driver is wanted in connection with the alleged abduction of two women in Virginia presents a potential reputational and safety concern, although the incident involves an individual driver rather than a disclosed company policy change. Lyft Driver Wanted for Abducting Two Women in Virginia

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.