Lyft (NASDAQ:LYFT) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research started coverage on shares of Lyft (NASDAQ:LYFT) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm issued a peer perform rating on the ride-sharing company’s stock.

LYFT has been the subject of a number of other reports. Piper Sandler reiterated an overweight rating and set a $24.00 price target (up from $23.00) on shares of Lyft in a report on Friday, June 7th. Fox Advisors upgraded shares of Lyft from an equal weight rating to an overweight rating and set a $20.00 price target for the company in a report on Friday, June 7th. The Goldman Sachs Group lifted their price target on shares of Lyft from $19.00 to $21.00 and gave the stock a neutral rating in a report on Friday, June 7th. Truist Financial lifted their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a hold rating in a report on Wednesday, May 8th. Finally, Barclays lifted their price target on shares of Lyft from $17.00 to $20.00 and gave the stock an equal weight rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $18.00.

Lyft Trading Down 2.4 %

Shares of LYFT opened at $12.43 on Tuesday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50-day moving average of $14.68 and a two-hundred day moving average of $15.55. Lyft has a 12-month low of $8.85 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. As a group, equities research analysts expect that Lyft will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other news, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the transaction, the president now directly owns 60,778 shares of the company’s stock, valued at $1,063,615. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the transaction, the president now directly owns 60,778 shares of the company’s stock, valued at $1,063,615. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Patrick Zimmer sold 3,327 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $15.74, for a total transaction of $52,366.98. Following the transaction, the director now directly owns 921,294 shares in the company, valued at $14,501,167.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,333 shares of company stock valued at $680,974. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Lyft by 3.7% in the third quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after acquiring an additional 1,135,036 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Lyft by 15.1% in the first quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock valued at $767,000 after acquiring an additional 5,184 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Lyft by 163.9% in the fourth quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock valued at $1,511,000 after acquiring an additional 62,623 shares in the last quarter. Range Financial Group LLC acquired a new stake in Lyft in the first quarter valued at $470,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Lyft in the first quarter valued at $41,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.