Lyft, Inc. (NASDAQ:LYFT) Given Consensus Recommendation of "Hold" by Analysts

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) has received a consensus recommendation of "Hold" from the thirty-eight brokerages that are currently covering the stock, Marketbeat reports. Twenty-eight analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $17.48.

A number of research analysts have weighed in on the company. DA Davidson increased their price target on Lyft from $11.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday. Royal Bank of Canada decreased their price target on Lyft from $24.00 to $17.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group upped their price objective on shares of Lyft from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Lyft from $18.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Finally, Susquehanna upped their price target on shares of Lyft from $10.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday.

Insider Transactions at Lyft

In other news, Director Logan Green sold 10,323 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Lyft news, Director Logan Green sold 10,323 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares of the company's stock, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. 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.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company's stock valued at $636,603,000 after purchasing an additional 782,736 shares during the last quarter. Primecap Management Co. CA increased its holdings in Lyft by 3.8% in the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company's stock worth $82,768,000 after buying an additional 235,510 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Lyft by 1.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company's stock valued at $113,126,000 after acquiring an additional 63,461 shares in the last quarter. Bank of New York Mellon Corp raised its position in Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company's stock valued at $40,475,000 after acquiring an additional 812,926 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Lyft by 11.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company's stock valued at $22,580,000 after acquiring an additional 167,400 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Price Performance

NASDAQ:LYFT traded up $0.81 during trading hours on Monday, reaching $18.59. 22,041,109 shares of the company traded hands, compared to its average volume of 15,153,908. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82. The stock has a market cap of $7.62 billion, a P/E ratio of -116.25 and a beta of 2.04. The firm's 50-day moving average is $12.96 and its 200-day moving average is $13.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.44 billion. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The firm's quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. Equities research analysts expect that Lyft will post -0.06 earnings per share for the current fiscal year.

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.