Brokerages Set Lyft, Inc. (NASDAQ:LYFT) Price Target at $19.40

Lyft, Inc. (NASDAQ:LYFT) has earned an average rating of “Hold” from the thirty-seven research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.4333.

LYFT has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price objective on shares of Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Tigress Financial reissued a “buy” rating and issued a $28.00 target price on shares of Lyft in a report on Wednesday, June 24th. Morgan Stanley boosted their target price on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, DA Davidson reduced their price target on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research report on Monday, May 18th.

Lyft Price Performance

Lyft stock opened at $15.86 on Wednesday. The stock’s fifty day moving average price is $14.66 and its two-hundred day moving average price is $14.63. Lyft has a one year low of $12.46 and a one year high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $6.02 billion, a PE ratio of 2.32, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. As a group, research analysts expect that Lyft will post 0.69 EPS for the current fiscal year.

Insider Activity

In other news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the transaction, the chief financial officer owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $28,799.68. Following the transaction, the director directly owned 30,092 shares of the company’s stock, valued at $414,065.92. This trade represents a 6.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,535 shares of company stock valued at $637,456 in the last three months. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LYFT. Empowered Funds LLC lifted its holdings in shares of Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after acquiring an additional 2,921 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after purchasing an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Lyft during the 2nd quarter valued at approximately $470,000. Invesco Ltd. increased its position in Lyft by 87.5% during the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after purchasing an additional 497,118 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Lyft by 12.6% during the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after purchasing an additional 79,634 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

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.