Lyft (NASDAQ:LYFT) Upgraded by Rosenblatt Securities to "Hold" Rating

Key Points

• Rosenblatt Securities upgraded Lyft to “Hold,” adding to a broadly neutral analyst outlook. MarketBeat reports a consensus “Hold” rating and an average price target of $19.77, compared with the stock’s recent price of $16.77.
• Lyft’s latest quarterly revenue rose 16.1% year over year to $1.84 billion, exceeding estimates, while adjusted earnings of $0.13 per share narrowly missed expectations by one cent.
• Insiders have been net sellers: company directors sold shares under pre-arranged Rule 10b5-1 plans, with insiders selling 98,816 shares worth approximately $1.62 million over the past 90 days.

Lyft (NASDAQ:LYFT - Get Free Report) was upgraded by Rosenblatt Securities to a "hold" rating in a report issued on Monday, Zacks reports.

LYFT has been the topic of several other research reports. Canaccord Genuity Group raised their price target on shares of Lyft from $15.00 to $16.00 and gave the company a "hold" rating in a report on Monday, August 10th. Piper Sandler reissued an "overweight" rating and issued a $21.00 price objective (up from $20.00) on shares of Lyft in a research report on Friday, August 7th. Wells Fargo & Company raised their target price on shares of Lyft from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. William Blair lowered shares of Lyft to a "market perform" rating in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.77.

Lyft Price Performance

Shares of Lyft stock opened at $16.77 on Monday. The business's fifty day moving average price is $16.05 and its 200 day moving average price is $14.55. Lyft has a twelve month low of $12.46 and a twelve month high of $25.54. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $6.35 billion, a P/E ratio of 2.44, a PEG ratio of 1.04 and a beta of 1.80.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data 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 analysts' expectations 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 last year, the business earned $0.10 earnings per share. As a group, research analysts anticipate that Lyft will post 0.73 earnings per share for the current year.

Insider Buying and Selling at Lyft

In related news, Director Jill Beggs sold 2,307 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.34, for a total value of $40,003.38. Following the completion of the transaction, the director owned 46,238 shares of the company's stock, valued at approximately $801,766.92. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total value of $79,943.29. Following the sale, the director owned 119,124 shares of the company's stock, valued at approximately $2,064,418.92. This trade represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 98,816 shares of company stock valued at $1,615,095. Company insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On Lyft

Institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. grew its position in shares of Lyft by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company's stock worth $75,000 after buying an additional 639 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Lyft by 5.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company's stock valued at $248,000 after acquiring an additional 681 shares in the last quarter. Allegiance Financial Group Advisory Services LLC boosted its stake in Lyft by 4.3% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company's stock valued at $352,000 after acquiring an additional 756 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Lyft by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company's stock valued at $3,684,000 after acquiring an additional 771 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Lyft by 1.0% during the 4th quarter. AlphaQuest LLC now owns 89,753 shares of the ride-sharing company's stock worth $1,739,000 after acquiring an additional 854 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: New advertising partnership: Lyft Ads and United Airlines are creating a dynamic advertising partnership, potentially expanding Lyft’s higher-margin advertising revenue and strengthening its position with travel-oriented consumers. Lyft Ads and United Airlines partnership
• Positive Sentiment: New analyst coverage: Rosenblatt Securities initiated coverage with a “neutral” rating and a $19 price target, which is above the stock’s recent trading level. While not a bullish endorsement, the target suggests potential upside and adds another Wall Street view to the stock’s coverage.

Lyft Company Profile

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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