Jill Beggs Sells 2,307 Shares of Lyft (NASDAQ:LYFT) Stock

Lyft, Inc. (NASDAQ:LYFT) Director Jill Beggs sold 2,307 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.34, for a total transaction of $40,003.38. Following the sale, the director owned 46,238 shares in the company, valued at $801,766.92. This represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lyft Stock Down 0.8%

Shares of NASDAQ:LYFT opened at $16.77 on Wednesday. The firm has a 50 day simple moving average of $16.05 and a 200 day simple moving average of $14.55. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $6.35 billion, a PE ratio of 2.44, a price-to-earnings-growth ratio of 1.04 and a beta of 1.83.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data 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 negative return on equity of 1.20% and a net margin of 42.32%.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 previous year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts expect that Lyft, Inc. will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Rothschild & Co Redburn raised Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, June 17th. Roth Capital reaffirmed a “buy” rating and set a $25.00 target price (up from $23.00) on shares of Lyft in a research note on Monday, August 10th. Truist Financial upped their target price on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Friday, May 8th. Wells Fargo & Company increased their price target on shares of Lyft from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Citigroup began coverage on shares of Lyft in a report on Wednesday, June 17th. They set a “buy” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and an average target price of $19.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LYFT. University of Texas Texas AM Investment Management Co. acquired a new position in Lyft in the 4th quarter worth about $26,000. Plato Investment Management Ltd purchased a new stake in shares of Lyft during the 2nd quarter worth about $27,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the 4th quarter valued at about $40,000. Huntington National Bank lifted its holdings in shares of Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares during the last quarter. Finally, Boreal Capital Management LLC bought a new stake in shares of Lyft in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Key Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: New advertising partnership: Lyft Ads and United Airlines are creating a dynamic advertising partnership, potentially expanding Lyft’s higher-margin advertising revenue and strengthening its position with travel-oriented consumers. Lyft Ads and United Airlines partnership
• Positive Sentiment: New analyst coverage: Rosenblatt Securities initiated coverage with a “neutral” rating and a $19 price target, which is above the stock’s recent trading level. While not a bullish endorsement, the target suggests potential upside and adds another Wall Street view to the stock’s coverage.

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.