Lyft, Inc. (NASDAQ:LYFT) Receives $19.69 Consensus Price Target from Analysts

Lyft, Inc. (NASDAQ:LYFT) has received a consensus rating of “Hold” from the thirty-nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, twenty-six have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.6774.

Several research firms have recently issued reports on LYFT. Zacks Research upgraded Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Oppenheimer initiated coverage on Lyft in a report on Wednesday, June 17th. They set an “outperform” rating for the company. Susquehanna reaffirmed a “neutral” rating and issued a $18.00 target price on shares of Lyft in a research report on Monday, August 10th. Sanford C. Bernstein initiated coverage on Lyft in a research report on Wednesday, June 17th. They issued an “underperform” rating on the stock. Finally, Scotiabank began coverage on Lyft in a report on Wednesday, September 9th. They issued a “sector perform” rating and a $17.00 target price on the stock.

Lyft Stock Down 2.6%

LYFT opened at $15.10 on Thursday. 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 firm has a market cap of $5.72 billion, a P/E ratio of 2.19, a PEG ratio of 0.96 and a beta of 1.83. Lyft has a 52 week low of $12.46 and a 52 week high of $25.54. The business’s fifty day simple moving average is $16.29 and its 200 day simple moving average is $14.76.

Lyft (NASDAQ:LYFT) last announced its earnings results 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, equities research analysts anticipate that Lyft will post 0.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Stephen Hope sold 5,982 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.34, for a total transaction of $103,727.88. Following the completion of the sale, the chief accounting officer owned 299,974 shares in the company, valued at approximately $5,201,549.16. The trade was a 1.96% 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, Director David Lawee sold 4,613 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $17.33, for a total transaction of $79,943.29. Following the sale, the director directly owned 119,124 shares of the company’s stock, valued at approximately $2,064,418.92. This trade represents a 3.73% decrease in their position. 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 quarter, insiders sold 97,020 shares of company stock worth $1,630,959. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Lyft

A number of hedge funds have recently made changes to their positions in LYFT. PNC Financial Services Group Inc. lifted its holdings 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 in the last quarter. AlphaQuest LLC increased its holdings in Lyft by 1.0% in the 4th quarter. AlphaQuest LLC now owns 89,753 shares of the ride-sharing company’s stock valued at $1,739,000 after purchasing an additional 854 shares in the last quarter. Essex Financial Services Inc. increased its holdings in Lyft by 8.4% in the 4th quarter. Essex Financial Services Inc. now owns 11,238 shares of the ride-sharing company’s stock valued at $218,000 after purchasing an additional 867 shares in the last quarter. Wedmont Private Capital raised its position in Lyft by 8.2% in the second quarter. Wedmont Private Capital now owns 12,875 shares of the ride-sharing company’s stock valued at $201,000 after purchasing an additional 977 shares during the period. Finally, Horizon Investment Services LLC raised its position in Lyft by 6.1% in the fourth quarter. Horizon Investment Services LLC now owns 17,348 shares of the ride-sharing company’s stock valued at $336,000 after purchasing an additional 994 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

About Lyft

Lyft, Inc is a transportation technology company that operates a digital platform connecting passengers with drivers. Its core service is app-based ridesharing, allowing users to request rides, receive estimated fares, track trips and pay electronically. Lyft also offers transportation options such as scheduled rides, airport services and premium ride categories.

In addition to ridesharing, Lyft provides access to bikes and scooters in select markets and offers transportation-management tools through Lyft Business.