Analysts Set Lyft, Inc. (NASDAQ:LYFT) PT at $16.87

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given an average recommendation of “Hold” by the thirty brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $16.8704.

Several research analysts recently commented on LYFT shares. Oppenheimer decreased their target price on shares of Lyft from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Tigress Financial reaffirmed a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Canaccord Genuity Group decreased their target price on shares of Lyft from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Lyft in a research note on Thursday, June 5th. Finally, UBS Group lifted their price target on shares of Lyft from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th.

Insider Activity at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer owned 525,759 shares in the company, valued at $9,064,085.16. The trade was a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of Lyft stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the sale, the insider owned 850,388 shares in the company, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,821 shares of company stock worth $960,566 over the last quarter. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Large investors have recently added to or reduced their stakes in the stock. Spurstone Advisory Services LLC bought a new stake in Lyft in the fourth quarter valued at $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lyft during the 2nd quarter valued at $32,000. GAMMA Investing LLC boosted its holdings in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after buying an additional 1,237 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of Lyft by 1,242.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 3.8%

Shares of Lyft stock opened at $18.39 on Friday. Lyft has a 12-month low of $9.66 and a 12-month high of $19.07. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 76.63, a PEG ratio of 2.89 and a beta of 2.33. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $15.36 and its 200-day moving average price is $14.11.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts expect that Lyft will post 0.22 earnings per share for the current fiscal 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.