Lyft (NASDAQ:LYFT) Now Covered by Analysts at Benchmark

Benchmark assumed coverage on shares of Lyft (NASDAQ:LYFT) in a report issued on Friday morning, Marketbeat reports. The firm issued a hold rating on the ride-sharing company’s stock.

A number of other equities research analysts have also commented on LYFT. Nomura Securities upgraded Lyft from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Loop Capital dropped their target price on Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Wolfe Research assumed coverage on Lyft in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. TD Cowen decreased their price target on Lyft from $18.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Citigroup decreased their price target on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and an average price target of $15.59.

Lyft Price Performance

Shares of LYFT stock opened at $13.41 on Friday. The stock’s 50-day simple moving average is $12.37 and its 200-day simple moving average is $13.70. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -83.81 and a beta of 2.04. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. Lyft’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. As a group, equities analysts forecast that Lyft will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total value of $50,916.00. Following the sale, the insider now owns 760,089 shares of the company’s stock, valued at $9,121,068. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total value of $50,916.00. Following the sale, the insider now owns 760,089 shares of the company’s stock, valued at $9,121,068. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,664 shares of company stock valued at $380,048. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently made changes to their positions in LYFT. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft during the 1st quarter worth about $41,000. Principal Financial Group Inc. raised its position in shares of Lyft by 525.4% during the 1st quarter. Principal Financial Group Inc. now owns 222,685 shares of the ride-sharing company’s stock worth $4,309,000 after acquiring an additional 187,078 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Lyft by 15.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock worth $767,000 after acquiring an additional 5,184 shares in the last quarter. Van ECK Associates Corp grew its stake in Lyft by 156.5% during the 1st quarter. Van ECK Associates Corp now owns 313,143 shares of the ride-sharing company’s stock worth $6,059,000 after buying an additional 191,053 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Lyft by 60.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 604,048 shares of the ride-sharing company’s stock worth $11,443,000 after buying an additional 227,846 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

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.