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

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned a consensus recommendation of “Hold” from the thirty-seven analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $19.40.

LYFT has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Rothschild & Co Redburn upgraded Lyft from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, June 17th. Canaccord Genuity Group lowered their price target on Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a report on Friday, May 8th. Zacks Research raised Lyft from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Oppenheimer started coverage on Lyft in a research note on Wednesday, June 17th. They set an “outperform” rating on the stock.

Insider Buying and Selling at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $15.00, for a total transaction of $172,365.00. Following the completion of the sale, the insider owned 853,731 shares of the company’s stock, valued at $12,805,965. This represents a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, the chief accounting officer directly owned 335,463 shares of the company’s stock, valued at $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,196 shares of company stock worth $992,371 in the last quarter. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Lyft

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Lyft by 7.4% during the 3rd 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 during the period. Renaissance Technologies LLC boosted its stake 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 acquiring an additional 1,320,938 shares in the last quarter. Altshuler Shaham Ltd increased its stake in Lyft by 51.6% in the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after purchasing an additional 2,607,417 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lyft by 58.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after acquiring an additional 2,467,010 shares in the last quarter. Finally, Norges Bank acquired a new position in Lyft during the fourth quarter valued at $109,987,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Down 1.7%

Shares of NASDAQ:LYFT opened at $15.17 on Friday. The firm has a market cap of $5.76 billion, a PE ratio of 2.21, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80. The company has a fifty day simple moving average of $14.12 and a 200 day simple moving average of $15.09. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft has a 12-month low of $12.46 and a 12-month high of $25.54.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS 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 company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. On average, equities research analysts anticipate that Lyft will post 0.69 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.