Lyft, Inc. (NASDAQ:LYFT) Receives $14.60 Consensus PT from Brokerages

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given a consensus recommendation of “Hold” by the twenty-three brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.60.

Several equities research analysts have weighed in on LYFT shares. UBS Group upped their target price on Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. increased their price target on Lyft from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. BMO Capital Markets assumed coverage on Lyft in a research note on Tuesday, January 9th. They issued a “market perform” rating and a $15.00 price target for the company. Piper Sandler increased their price target on Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Wedbush reiterated a “neutral” rating and issued a $15.00 price target (up from $14.00) on shares of Lyft in a research note on Wednesday, February 14th.

Lyft Stock Up 1.9 %

NASDAQ LYFT opened at $16.37 on Thursday. The business has a fifty day moving average price of $17.74 and a two-hundred day moving average price of $14.26. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. Lyft has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The stock has a market capitalization of $6.54 billion, a PE ratio of -18.39 and a beta of 1.98.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Equities analysts expect that Lyft will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total transaction of $275,327.24. Following the completion of the sale, the director now directly owns 1,204,071 shares in the company, valued at approximately $21,083,283.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total transaction of $275,327.24. Following the completion of the sale, the director now directly owns 1,204,071 shares in the company, valued at approximately $21,083,283.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Kristin Sverchek sold 5,670 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the sale, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,526 shares of company stock worth $5,195,771. Company insiders own 3.16% of the company’s stock.

Institutional Trading of Lyft

Several large investors have recently made changes to their positions in LYFT. Vontobel Holding Ltd. grew its stake in shares of Lyft by 8.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 24,819 shares of the ride-sharing company’s stock valued at $262,000 after buying an additional 1,860 shares during the period. CWM LLC boosted its stake in Lyft by 72.6% during the 3rd quarter. CWM LLC now owns 7,097 shares of the ride-sharing company’s stock valued at $75,000 after purchasing an additional 2,985 shares during the last quarter. AE Wealth Management LLC acquired a new position in Lyft during the 3rd quarter valued at about $526,000. SG Americas Securities LLC boosted its stake in Lyft by 11.3% during the 3rd quarter. SG Americas Securities LLC now owns 55,465 shares of the ride-sharing company’s stock valued at $585,000 after purchasing an additional 5,653 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in Lyft during the 3rd quarter valued at about $397,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.