Lyft (NASDAQ:LYFT) Rating Increased to Hold at Rosenblatt Securities

Lyft (NASDAQ:LYFT) was upgraded by investment analysts at Rosenblatt Securities to a “hold” rating in a research note issued on Monday, Zacks reports.

LYFT has been the subject of a number of other reports. Guggenheim restated a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Tigress Financial reiterated a “buy” rating and set a $28.00 price target on shares of Lyft in a research report on Wednesday, June 24th. BTIG Research raised Lyft from a “neutral” rating to a “buy” rating in a report on Wednesday, June 17th. Roth Capital restated a “buy” rating and set a $25.00 price objective (up from $23.00) on shares of Lyft in a research report on Monday, August 10th. Finally, Morgan Stanley upped their price objective on Lyft from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Lyft has a consensus rating of “Hold” and an average price target of $19.77.

Lyft Trading Down 0.8%

Lyft stock opened at $16.77 on Monday. Lyft has a 1 year low of $12.46 and a 1 year high of $25.54. The firm’s 50-day moving average is $16.05 and its 200-day moving average is $14.55. 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 P/E ratio of 2.44, a PEG ratio of 1.04 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. Lyft’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. On average, equities analysts expect that Lyft will post 0.73 earnings per share for the current year.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 36,214 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $16.14, for a total value of $584,493.96. Following the sale, the insider owned 817,517 shares in the company, valued at approximately $13,194,724.38. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 98,816 shares of company stock worth $1,615,095 in the last quarter. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Lyft

Several hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Lyft by 13.7% during the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after purchasing an additional 2,921 shares during the period. Focus Partners Wealth lifted its holdings in Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after purchasing an additional 15,621 shares during the period. Sivia Capital Partners LLC acquired a new stake in Lyft in the second quarter worth about $470,000. Invesco Ltd. grew its position in Lyft by 87.5% in the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock valued at $16,783,000 after buying an additional 497,118 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Lyft by 12.6% in the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock valued at $11,177,000 after buying an additional 79,634 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Trending Headlines about Lyft

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.

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.