Lyft, Inc. (NASDAQ:LYFT) Given Consensus Rating of "Hold" by Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT - Get Free Report) have earned an average rating of "Hold" from the thirty-nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $16.45.

Several equities analysts recently commented on LYFT shares. Royal Bank of Canada restated an "outperform" rating and set a $21.00 target price on shares of Lyft in a research report on Monday, March 17th. KeyCorp reissued a "sector weight" rating on shares of Lyft in a report on Wednesday, March 26th. Loop Capital lowered their target price on shares of Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company cut their price target on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Finally, Truist Financial lowered their price objective on shares of Lyft from $20.00 to $17.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th.

Lyft Price Performance

LYFT traded down $0.30 during trading on Monday, reaching $12.59. 15,060,033 shares of the company were exchanged, compared to its average volume of 15,543,013. Lyft has a 12-month low of $8.93 and a 12-month high of $19.07. The company's 50-day moving average is $11.76 and its two-hundred day moving average is $13.59. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 209.83, a P/E/G ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Research analysts forecast that Lyft will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the sale, the insider now directly owns 959,697 shares in the company, valued at approximately $11,948,227.65. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Logan Green sold 11,411 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now directly owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,143 shares of company stock worth $486,841 over the last 90 days. 3.07% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Large investors have recently made changes to their positions in the stock. HB Wealth Management LLC purchased a new stake in Lyft in the first quarter worth approximately $147,000. Heartland Advisors Inc. bought a new stake in shares of Lyft in the first quarter worth $1,823,000. Cetera Investment Advisers increased its position in Lyft by 59.5% during the first quarter. Cetera Investment Advisers now owns 28,460 shares of the ride-sharing company's stock valued at $338,000 after acquiring an additional 10,619 shares during the last quarter. Brookwood Investment Group LLC bought a new position in Lyft in the first quarter valued at about $344,000. Finally, Pinnacle Associates Ltd. boosted its position in Lyft by 243.3% in the first quarter. Pinnacle Associates Ltd. now owns 328,744 shares of the ride-sharing company's stock worth $3,902,000 after purchasing an additional 232,986 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

About Lyft

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.