Lyft (NASDAQ:LYFT) Now Covered by Rosenblatt Securities

Key Points

• Rosenblatt Securities initiated coverage of Lyft with a “neutral” rating and a $19 price target, implying approximately 12.4% upside from the stock’s reported $16.90 price.
• Analyst sentiment remains mixed but generally cautious: Lyft has an average “Hold” rating and a consensus target price of $19.77, based on 13 Buy, 23 Hold, and 2 Sell ratings.
• Lyft’s latest quarterly revenue rose 16.1% year over year to $1.84 billion, though EPS of $0.13 slightly missed estimates; insiders have sold 98,816 shares worth approximately $1.6 million over the past three months.

Equities research analysts at Rosenblatt Securities initiated coverage on shares of Lyft (NASDAQ:LYFT - Get Free Report) in a report released on Tuesday, Benzinga reports. The firm set a "neutral" rating and a $19.00 price target on the ride-sharing company's stock. Rosenblatt Securities' price objective would indicate a potential upside of 12.43% from the stock's current price.

LYFT has been the subject of several other research reports. Jefferies Financial Group boosted their price objective on shares of Lyft from $15.00 to $15.50 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Piper Sandler restated an "overweight" rating and issued a $21.00 target price (up from $20.00) on shares of Lyft in a research note on Friday, August 7th. William Blair downgraded Lyft to a "market perform" rating in a research report on Wednesday, June 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Lyft in a report on Monday, August 3rd. Finally, UBS Group increased their price objective on Lyft from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Lyft has an average rating of "Hold" and an average target price of $19.77.

Lyft Trading Down 4.5%

Shares of NASDAQ LYFT opened at $16.90 on Tuesday. Lyft has a 1-year low of $12.46 and a 1-year high of $25.54. The business has a fifty day moving average price of $15.99 and a 200 day moving average price of $14.53. The stock has a market capitalization of $6.40 billion, a P/E ratio of 2.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Equities research analysts expect that Lyft will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, Director David Lawee sold 4,613 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total transaction of $79,943.29. Following the sale, the director directly owned 119,124 shares of the company's stock, valued at $2,064,418.92. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $13.59, for a total transaction of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,816 shares of company stock worth $1,615,095 in the last three months. 0.92% of the stock is owned by company insiders.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Lyft in the fourth quarter worth $26,000. Plato Investment Management Ltd purchased a new position in shares of Lyft during the 2nd quarter valued at about $27,000. International Assets Investment Management LLC acquired a new position in shares of Lyft in the 4th quarter valued at about $40,000. Huntington National Bank boosted its stake in shares of Lyft by 171.8% in the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company's stock worth $42,000 after buying an additional 1,374 shares during the last quarter. Finally, Boreal Capital Management LLC acquired a new stake in Lyft during the first quarter worth about $31,000. Institutional investors and hedge funds own 83.07% of the company's stock.

About Lyft

Lyft, Inc NASDAQ: LYFT operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft's platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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