Lyft, Inc. (NASDAQ:LYFT) Given Consensus Rating of "Hold" by Brokerages

Shares of Lyft, Inc. (NASDAQ:LYFT - Get Free Report) have been assigned an average rating of "Hold" from the thirty-eight ratings firms that are currently covering the company, Marketbeat.com reports. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.77.

A number of research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. Benchmark reiterated a "hold" rating on shares of Lyft in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Lyft from $15.00 to $11.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Wedbush reiterated a "neutral" rating and set a $20.00 target price (up previously from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Finally, Piper Sandler reissued an "overweight" rating and issued a $23.00 price target (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th.

Insider Buying and Selling at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 4,243 shares of Lyft stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total value of $50,916.00. Following the completion of the transaction, the insider now owns 760,089 shares in the company, valued at approximately $9,121,068. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Logan Green sold 10,919 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,909 shares of company stock valued at $505,686 over the last quarter. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in Lyft in the 3rd quarter valued at about $27,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft in the second quarter valued at approximately $35,000. International Assets Investment Management LLC purchased a new position in Lyft in the second quarter worth approximately $35,000. Capital Performance Advisors LLP acquired a new position in Lyft during the 3rd quarter worth approximately $38,000. Finally, Quarry LP increased its position in shares of Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company's stock valued at $50,000 after purchasing an additional 3,468 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

NASDAQ:LYFT traded up $0.44 during mid-day trading on Friday, hitting $15.94. The company's stock had a trading volume of 13,251,991 shares, compared to its average volume of 15,059,698. The business's fifty day moving average is $14.98 and its two-hundred day moving average is $13.60. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of -99.63, a PEG ratio of 4.91 and a beta of 2.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft has a 1 year low of $8.93 and a 1 year high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating 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 firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned ($0.02) EPS. The business's quarterly revenue was up 31.6% on a year-over-year basis. Analysts anticipate that Lyft will post 0.08 EPS 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.