Lyft, Inc. (NASDAQ:LYFT) Receives $19.80 Consensus PT from Analysts

Lyft, Inc. (NASDAQ:LYFT) has been assigned a consensus rating of “Hold” from the thirty-seven brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $19.80.

Several research firms recently commented on LYFT. Susquehanna reiterated a “neutral” rating and issued a $18.00 price target on shares of Lyft in a research report on Monday, August 10th. Citigroup started coverage on shares of Lyft in a research note on Wednesday, June 17th. They set a “buy” rating for the company. Wells Fargo & Company upped their price objective on Lyft from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Sanford C. Bernstein assumed coverage on shares of Lyft in a research note on Wednesday, June 17th. They issued an “underperform” rating on the stock. Finally, Canaccord Genuity Group increased their price target on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Monday, August 10th.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 36,214 shares of Lyft stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $16.14, for a total value of $584,493.96. Following the transaction, the insider directly owned 817,517 shares in the company, valued at approximately $13,194,724.38. This trade represents a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Janey Whiteside sold 14,220 shares of Lyft stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $17.00, for a total value of $241,740.00. Following the completion of the transaction, the director owned 66,184 shares in the company, valued at $1,125,128. This trade represents a 17.69% 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. In the last three months, insiders have sold 97,405 shares of company stock worth $1,563,785. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently modified their holdings of LYFT. California State Teachers Retirement System grew its holdings in shares of Lyft by 1,333.6% during the second quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company’s stock valued at $94,108,000 after buying an additional 5,992,016 shares during the last quarter. Norges Bank acquired a new position in Lyft in the 4th quarter worth approximately $109,987,000. Swedbank AB purchased a new position in shares of Lyft during the fourth quarter worth $108,472,000. Contour Asset Management LLC purchased a new position in shares of Lyft during the 4th quarter valued at about $75,870,000. Finally, Principal Financial Group Inc. raised its position in Lyft by 250.0% during the first quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company’s stock valued at $56,479,000 after acquiring an additional 3,033,333 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $17.70 on Friday. The firm has a fifty day moving average price of $15.94 and a 200 day moving average price of $14.54. Lyft has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 2.57, a P/E/G ratio of 1.09 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59.

Lyft (NASDAQ:LYFT) last released its quarterly 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). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts expect that Lyft will post 0.73 earnings per share for the current fiscal year.

Lyft Company Profile

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.