Lyft, Inc. (NASDAQ:LYFT) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Lyft has an average “Hold” rating among 39 analysts: 26 recommend holding, 11 recommend buying, and two recommend selling. The average 12-month price target is $19.03, compared with a recent price of $16.22.
• In its latest quarter, Lyft reported $1.84 billion in revenue, up 16.1% year over year and above expectations, but adjusted earnings per share of $0.13 narrowly missed the $0.14 consensus estimate.
• Institutional investors own 83.07% of Lyft, while insiders sold 112,020 shares worth about $1.85 million over the past three months, primarily through pre-arranged trading plans.

Shares of Lyft, Inc. (NASDAQ:LYFT - Get Free Report) have earned an average rating of "Hold" from the thirty-nine analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, twenty-six have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $19.03.

LYFT has been the topic of a number of recent research reports. Cantor Fitzgerald raised their target price on shares of Lyft from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Piper Sandler reaffirmed an "overweight" rating and set a $21.00 target price (up from $20.00) on shares of Lyft in a report on Friday, August 7th. JPMorgan Chase & Co. increased their price target on Lyft from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Citigroup began coverage on Lyft in a report on Wednesday, June 17th. They issued a "buy" rating on the stock. Finally, UBS Group raised their price target on Lyft from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 7th.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $16.22 on Monday. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 2.36, a price-to-earnings-growth ratio of 1.03 and a beta of 1.95. Lyft has a 1-year low of $12.46 and a 1-year high of $25.54. The company's fifty day moving average is $16.29 and its two-hundred day moving average is $14.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Lyft will post 0.79 EPS for the current year.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 5,982 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.34, for a total transaction of $103,727.88. Following the completion of the transaction, the chief accounting officer owned 299,974 shares in the company, valued at approximately $5,201,549.16. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Llewellyn sold 13,204 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $16.64, for a total transaction of $219,714.56. Following the completion of the sale, the insider directly owned 781,152 shares in the company, valued at approximately $12,998,369.28. This trade represents a 1.66% 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. Insiders sold a total of 112,020 shares of company stock valued at $1,850,559 in the last three months. 0.92% of the stock is owned by corporate insiders.

Institutional Trading of Lyft

Several hedge funds have recently bought and sold shares of LYFT. Contour Asset Management LLC bought a new position in Lyft in the 4th quarter valued at about $75,870,000. Principal Financial Group Inc. increased its stake in Lyft by 250.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company's stock valued at $56,479,000 after buying an additional 3,033,333 shares during the period. Altshuler Shaham Ltd raised its position in shares of Lyft by 51.6% during the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company's stock worth $101,905,000 after buying an additional 2,607,417 shares in the last quarter. Junto Capital Management LP bought a new stake in shares of Lyft during the 2nd quarter worth about $36,926,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Lyft by 58.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company's stock worth $89,360,000 after buying an additional 2,467,010 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

About Lyft

Lyft, Inc is a technology company that operates a transportation platform in the United States and Canada. Through its mobile application and website, Lyft connects riders with drivers who provide on-demand and scheduled transportation services, including rides in private vehicles and taxis.

The company also offers a range of related services, such as bikes and scooters in select markets, airport transportation, business travel programs and tools for organizations managing transportation.

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