Brokerages Set Lyft, Inc. (NASDAQ:LYFT) PT at $17.23

Lyft, Inc. (NASDAQ:LYFT) has been assigned an average rating of “Hold” from the thirty-eight research firms that are presently covering the firm, MarketBeat reports. Twenty-eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $17.48.

A number of analysts have recently commented on LYFT shares. Evercore ISI boosted their price objective on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Citigroup decreased their price objective on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Melius assumed coverage on shares of Lyft in a research note on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $20.00 price objective (up from $12.00) on shares of Lyft in a report on Thursday, November 7th.

Lyft Stock Performance

LYFT opened at $18.12 on Monday. The stock has a market cap of $7.43 billion, a P/E ratio of -113.25, a P/E/G ratio of 5.26 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a fifty day moving average price of $13.64 and a 200 day moving average price of $13.57. Lyft has a 1 year low of $8.93 and a 1 year high of $20.82.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. Equities research analysts anticipate that Lyft will post 0.08 earnings per share for the current year.

Insider Transactions at Lyft

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,987 shares of company stock worth $619,025. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in shares of Lyft in the third quarter worth $27,000. International Assets Investment Management LLC acquired a new position in Lyft during the 2nd quarter worth $35,000. Brown Brothers Harriman & Co. purchased a new stake in Lyft during the 2nd quarter worth about $35,000. Capital Performance Advisors LLP acquired a new stake in Lyft in the third quarter valued at approximately $38,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft in the 1st quarter valued at $41,000. 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.