Lyft (NASDAQ:LYFT) Shares Gap Down - Time to Sell?

Lyft, Inc. (NASDAQ:LYFT - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $18.12, but opened at $17.53. Lyft shares last traded at $16.93, with a volume of 4,179,178 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lyft from $15.00 to $11.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Nomura Securities raised Lyft from a "strong sell" rating to a "hold" rating in a research report on Friday, August 23rd. Barclays upped their price target on Lyft from $14.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Wedbush reissued a "neutral" rating and issued a $20.00 price objective (up from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research note on Thursday, November 7th. 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 to the company's stock. Based on data from MarketBeat.com, Lyft has a consensus rating of "Hold" and a consensus target price of $17.48.

Lyft Stock Performance

The stock has a market cap of $7.10 billion, a P/E ratio of -109.25, a P/E/G ratio of 5.26 and a beta of 2.04. The firm has a 50 day moving average of $13.64 and a two-hundred day moving average of $13.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. Lyft's quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) earnings per share. On average, research analysts predict that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm's stock in a transaction dated 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. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,987 shares of company stock worth $619,025. Company insiders own 3.07% of the company's stock.

Hedge Funds Weigh In On Lyft

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 worth $636,603,000 after acquiring an additional 782,736 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Lyft by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company's stock worth $230,174,000 after purchasing an additional 80,675 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock worth $103,456,000 after purchasing an additional 1,735,208 shares in the last quarter. Pacer Advisors Inc. bought a new position in Lyft during the 3rd quarter valued at about $90,604,000. Finally, Primecap Management Co. CA lifted its holdings in Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company's stock valued at $82,768,000 after purchasing an additional 235,510 shares during the last quarter. Institutional investors 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.