Lyft, Inc. (NASDAQ:LYFT) Receives Consensus Rating of “Hold” from Analysts

Lyft, Inc. (NASDAQ:LYFT) has been assigned an average rating of “Hold” from the twenty-three brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.60.

Several brokerages recently weighed in on LYFT. The Goldman Sachs Group downgraded Lyft from a “buy” rating to a “neutral” rating and increased their price target for the stock from $12.00 to $15.00 in a report on Thursday, January 11th. Wells Fargo & Company increased their price target on Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, April 8th. Moffett Nathanson raised Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. BMO Capital Markets began coverage on Lyft in a report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 price target for the company. Finally, Argus raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, March 5th.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the sale, the director now owns 932,544 shares in the company, valued at approximately $18,688,181.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Lyft news, President Kristin Sverchek sold 16,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.00, for a total value of $320,000.00. Following the sale, the president now directly owns 80,978 shares of the company’s stock, valued at approximately $1,619,560. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the sale, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,526 shares of company stock worth $5,195,771. 3.16% of the stock is owned by corporate insiders.

Institutional Trading of Lyft

A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Lyft in the 1st quarter valued at approximately $41,000. GAMMA Investing LLC raised its position in shares of Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in shares of Lyft in the 4th quarter valued at approximately $34,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Lyft in the 4th quarter valued at approximately $34,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Price Performance

LYFT stock opened at $15.86 on Thursday. The company has a market capitalization of $6.34 billion, a P/E ratio of -17.82 and a beta of 1.98. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82. The business has a 50 day simple moving average of $17.68 and a 200-day simple moving average of $14.37. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.14. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. As a group, equities analysts anticipate that Lyft will post -0.35 EPS for the current year.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.