Lyft, Inc. (NASDAQ:LYFT) Stock Has Average Target Price of $19.14 According to Brokerages

Shares of Lyft, Inc. (NASDAQ:LYFT) have earned a consensus rating of “Hold” from the thirty-seven research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and ten have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.00.

A number of equities research analysts recently issued reports on the company. Bank of America upgraded Lyft from an “underperform” rating to a “buy” rating in a research report on Friday, August 7th. BMO Capital Markets restated a “market perform” rating on shares of Lyft in a research note on Friday. Raymond James Financial restated a “market perform” rating on shares of Lyft in a research note on Friday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $17.00 price target on shares of Lyft in a research report on Monday, August 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lyft in a research report on Friday, October 30th.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft reported record rides and gross bookings for Q3, with coverage also highlighting stronger adjusted EBITDA. The CEO said rider growth has remained in double digits for eight consecutive quarters. Lyft reports record rides and gross bookings
• Positive Sentiment: Lyft launched Lyft Go, a $9.99 monthly membership bundling DoorDash DashPass with ride credits. The offering could encourage customer retention and increase use across both services. Lyft debuts joint membership with DoorDash
• Positive Sentiment: Lyft is expanding its Waymo robotaxi fleet in Nashville, while CEO David Risher said autonomous vehicles are not hurting the company’s business. Partnerships may let Lyft participate in autonomous rides without building its own fleet. Lyft to expand Waymo robotaxi fleet
• Neutral Sentiment: Truist raised its price target to $18 from $16 but kept a Hold rating, suggesting limited near-term conviction despite the higher valuation estimate. Truist rating and target
• Negative Sentiment: Q3 results disappointed on reported figures: Lyft posted a $0.03-per-share loss and $1.82 billion in revenue, below cited consensus estimates. Legal, tax, and regulatory reserve changes and settlements—including a reported $117.9 million charge—dented results, although some coverage emphasized stronger adjusted performance. Lyft posts surprise loss on settlement
• Negative Sentiment: Analysts flagged slowing growth and execution risks. Scotiabank cut its target to $16 from $17, and Rosenblatt lowered its target to $18 from $19; both maintained cautious ratings. Analyst commentary on Lyft

Lyft Stock Performance

Lyft stock opened at $17.09 on Friday. Lyft has a 1-year low of $12.46 and a 1-year high of $25.54. The company has a current ratio of 0.60, a quick ratio of 0.59 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6.47 billion, a PE ratio of 2.54, a price-to-earnings-growth ratio of 1.06 and a beta of 2.06. The firm’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $15.13.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, November 5th. The ride-sharing company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.23). The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Lyft had a net margin of 40.67% and a return on equity of 1.25%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, analysts expect that Lyft will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Lindsay Llewellyn sold 13,204 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $16.64, for a total value of $219,714.56. Following the sale, the insider directly owned 781,152 shares of the company’s stock, valued at $12,998,369.28. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen Hope sold 5,982 shares of the firm’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 $103,727.88. Following the completion of the sale, the chief accounting officer directly owned 299,974 shares in the company, valued at $5,201,549.16. This represents a 1.96% 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 61,586 shares of company stock valued at $1,024,326 in the last 90 days. 0.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LYFT. Plato Investment Management Ltd bought a new stake in shares of Lyft in the 2nd quarter worth approximately $27,000. Heritage Family Offices LLP bought a new stake in Lyft in the 3rd quarter worth $29,000. Boreal Capital Management LLC purchased a new position in shares of Lyft in the first quarter valued at about $31,000. Bessemer Group Inc. raised its stake in shares of Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Lyft by 166.5% during the third quarter. Signaturefd LLC now owns 2,593 shares of the ride-sharing company’s stock worth $39,000 after purchasing an additional 1,620 shares during the period. 83.07% of the stock is currently owned by institutional investors.

About Lyft

Lyft operates a mobile platform that connects people seeking transportation with drivers who provide rides. Through its app, customers can request on-demand trips, schedule rides in advance, and access other ride options where available. The company also offers Lyft Pink, a membership program with benefits for eligible rides and services.

Lyft provides transportation programs for businesses and organizations through Lyft Business, including tools for arranging and managing rides. The company’s platform primarily serves markets in the United States and Canada.

Lyft was founded in 2012 by Logan Green and John Zimmer.