Lyft, Inc. (NASDAQ:LYFT) Receives $17.23 Average PT from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have earned a consensus rating of “Hold” from the thirty-eight research firms that are presently covering the stock, Marketbeat Ratings reports. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.48.

Several equities research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $23.00 price target (up previously from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target (up from $12.00) on shares of Lyft in a report on Thursday, November 7th. Nomura Securities upgraded Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Cantor Fitzgerald raised their price target on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Barclays boosted their price objective on shares of Lyft from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, November 8th.

Insider Buying and Selling

In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,987 shares of company stock worth $619,025 in the last three months. 3.07% of the stock is owned by insiders.

Institutional Trading of Lyft

A number of institutional investors have recently made changes to their positions in LYFT. Allspring Global Investments Holdings LLC purchased a new stake in Lyft during the 1st quarter worth approximately $41,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft during the second quarter worth $35,000. International Assets Investment Management LLC purchased a new position in Lyft in the 2nd quarter valued at $35,000. Capital Performance Advisors LLP purchased a new position in Lyft during the third quarter worth about $38,000. Finally, Quarry LP lifted its holdings 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 buying an additional 3,468 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Stock Down 3.1 %

Shares of LYFT opened at $17.78 on Monday. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50 day moving average price is $13.23 and its 200-day moving average price is $13.52.

Lyft (NASDAQ:LYFT) last issued its quarterly 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 return on equity of 1.58% and a negative net margin of 1.19%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned ($0.02) earnings per share. The company’s revenue was up 31.6% on a year-over-year basis. On average, equities analysts predict that Lyft will post 0.06 earnings per share for the current year.

About Lyft

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.