Lyft, Inc. (NASDAQ:LYFT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Lyft, with 24 hold, 13 buy and two sell ratings. The average 12-month price target is $19.69, above the reported share price of $15.69.
• Lyft’s latest quarterly revenue rose 16.1% year over year to $1.84 billion, exceeding estimates, but adjusted earnings of $0.13 per share narrowly missed the $0.14 consensus.
• Insiders sold 97,020 shares worth approximately $1.63 million over the past 90 days, while institutional investors own a substantial 83.07% of the company.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) has received an average rating of "Hold" from the thirty-nine ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.6875.

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Lyft from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Rosenblatt Securities began coverage on shares of Lyft in a research note on Tuesday, September 1st. They issued a "neutral" rating and a $19.00 price target on the stock. Susquehanna reissued a "neutral" rating and issued a $18.00 price target on shares of Lyft in a report on Monday, August 10th. Wells Fargo & Company raised their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Finally, Rothschild & Co Redburn upgraded Lyft from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a report on Wednesday, June 17th.

Insider Activity at Lyft

In related news, insider Lindsay Llewellyn sold 36,214 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $16.14, for a total value of $584,493.96. Following the completion of the sale, the insider directly owned 817,517 shares in the company, valued at $13,194,724.38. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $17.63, for a total value of $264,450.00. Following the completion of the transaction, the chief financial officer directly owned 852,303 shares in the company, valued at approximately $15,026,101.89. This represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,020 shares of company stock valued at $1,630,959 in the last 90 days. Corporate insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On Lyft

Institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd bought a new position in Lyft during the second quarter worth about $27,000. Boreal Capital Management LLC bought a new stake in Lyft in the 1st quarter valued at about $31,000. Bessemer Group Inc. boosted its holdings in Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company's stock valued at $35,000 after purchasing an additional 2,500 shares during the period. Huntington National Bank grew its position in shares of Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company's stock worth $42,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Lyft during the 1st quarter worth approximately $43,000. Institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $15.69 on Thursday. 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 company has a market capitalization of $5.94 billion, a P/E ratio of 2.28, a P/E/G ratio of 1.07 and a beta of 1.83. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54. The stock has a 50 day moving average of $16.31 and a 200-day moving average of $14.74.

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

Lyft Company Profile

Lyft, Inc is a transportation technology company that operates a digital platform connecting passengers with drivers. Its core service is app-based ridesharing, allowing users to request rides, receive estimated fares, track trips and pay electronically. Lyft also offers transportation options such as scheduled rides, airport services and premium ride categories.

In addition to ridesharing, Lyft provides access to bikes and scooters in select markets and offers transportation-management tools through Lyft Business.

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