Lyft, Inc. (NASDAQ:LYFT) Receives $18.00 Average Target Price from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned an average recommendation of “Hold” from the thirty brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.00.

A number of equities research analysts have weighed in on LYFT shares. BMO Capital Markets lifted their price target on shares of Lyft from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Friday, June 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of Lyft in a research note on Friday, June 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $23.00 target price on shares of Lyft in a research note on Friday, June 7th. Gordon Haskett raised Lyft from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $24.00 price target (up previously from $23.00) on shares of Lyft in a research report on Friday, June 7th.

Insider Activity

In related news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the transaction, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at approximately $5,513,536.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the transaction, the president now directly owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The disclosure for this sale can be found here. In the last three months, insiders sold 43,333 shares of company stock worth $680,974. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after acquiring an additional 664 shares during the period. Commerce Bank increased its position in Lyft by 2.9% during the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock worth $414,000 after purchasing an additional 782 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Lyft by 21.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after buying an additional 814 shares during the period. FinTrust Capital Advisors LLC raised its holdings in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the period. Finally, CWM LLC lifted its position in Lyft by 15.4% during the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after buying an additional 1,093 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $13.53 on Tuesday. Lyft has a 52 week low of $8.85 and a 52 week high of $20.82. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -28.79 and a beta of 2.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The firm has a 50-day simple moving average of $15.11 and a 200-day simple moving average of $15.63.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. On average, equities analysts predict that Lyft will post -0.19 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.