Lyft, Inc. (NASDAQ:LYFT) Receives $17.77 Average Price Target from Brokerages

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

LYFT has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Susquehanna boosted their target price on shares of Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Roth Mkm boosted their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Finally, Truist Financial lifted their price target on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, November 7th.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $13.65 on Tuesday. The company has a market cap of $5.66 billion, a PE ratio of -85.31, a price-to-earnings-growth ratio of 4.10 and a beta of 2.09. Lyft has a 12 month low of $8.93 and a 12 month 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 company has a 50-day simple moving average of $15.40 and a 200-day simple moving average of $13.42.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned ($0.02) earnings per share. Lyft’s revenue was up 31.6% compared to the same quarter last year. On average, equities analysts anticipate that Lyft will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Logan Green sold 10,919 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,242 shares of company stock worth $427,330 over the last 90 days. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC bought a new position in shares of Lyft during the third quarter worth about $27,000. Brown Brothers Harriman & Co. bought a new position in shares of Lyft during the second quarter worth about $35,000. International Assets Investment Management LLC bought a new position in shares of Lyft during the second quarter worth about $35,000. Capital Performance Advisors LLP bought a new position in shares of Lyft during the third quarter worth about $38,000. Finally, Quarry LP grew its position in shares of Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 3,468 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.