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

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) has been given a consensus rating of "Hold" by the thirty-five research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twenty-five have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.40.

LYFT has been the subject of several analyst reports. Oppenheimer restated an "outperform" rating and set a $17.00 price target (up from $15.00) on shares of Lyft in a report on Friday, May 9th. UBS Group raised their price target on Lyft from $12.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price target for the company in a report on Friday, May 9th. Wells Fargo & Company dropped their price objective on Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Finally, Bank of America cut Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective on the stock. in a research report on Thursday, April 3rd.

Insider Activity at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the transaction, the insider now owns 959,697 shares of the company's stock, valued at approximately $11,948,227.65. The trade was a 2.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the transaction, the director now owns 879,498 shares of the company's stock, valued at approximately $13,896,068.40. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,732 shares of company stock valued at $347,159. 3.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lyft

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after buying an additional 6,365,727 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Lyft by 1,957.5% during the 4th quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock worth $3,726,000 after buying an additional 274,789 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Lyft by 33.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company's stock worth $50,031,000 after buying an additional 981,186 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Lyft by 7,536.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company's stock worth $23,927,000 after buying an additional 1,830,533 shares in the last quarter. Finally, Meridiem Capital Partners LP bought a new position in shares of Lyft during the 4th quarter worth $11,571,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Price Performance

LYFT opened at $14.95 on Tuesday. The stock has a fifty day simple moving average of $14.39 and a two-hundred day simple moving average of $13.48. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 99.67, a price-to-earnings-growth ratio of 2.76 and a beta of 2.22. Lyft has a 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. Lyft's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 EPS. Research analysts predict that Lyft will post 0.22 earnings per share for the current fiscal year.

Lyft Company Profile

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.

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