Brokerages Set Lyft, Inc. (NASDAQ:LYFT) PT at $16.40

Shares of Lyft, Inc. (NASDAQ:LYFT - Get Free Report) have earned a consensus rating of "Hold" from the thirty-five ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, twenty-six have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.36.

Several brokerages have recently issued reports on LYFT. Barclays raised their price target on Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their target price on Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Morgan Stanley cut their price target on Lyft from $17.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Bank of America cut Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective for the company. in a research report on Thursday, April 3rd. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $17.00 target price (up previously from $15.00) on shares of Lyft in a research report on Friday, May 9th.

Lyft Stock Performance

Lyft stock traded down $0.13 during trading hours on Tuesday, reaching $15.72. 19,445,529 shares of the company were exchanged, compared to its average volume of 16,230,757. Lyft has a 12 month low of $8.93 and a 12 month high of $19.07. 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 stock has a 50-day moving average of $14.68 and a 200 day moving average of $13.51. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 104.80, a PEG ratio of 3.05 and a beta of 2.22.

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 the consensus estimate of $0.20 by ($0.19). Lyft had a return on equity of 11.28% and a net margin of 0.95%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company posted $0.15 earnings per share. Lyft's quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts anticipate that Lyft will post 0.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jill Beggs sold 1,572 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the sale, the director now directly owns 20,467 shares in the company, valued at $335,863.47. This represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John David Risher acquired 6,538 shares of Lyft stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the purchase, the chief executive officer now owns 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. This represents a 0.06% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 26,732 shares of company stock valued at $347,159. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Lyft by 5.7% during the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company's stock worth $451,645,000 after purchasing an additional 2,046,639 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Lyft by 26.3% during the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock valued at $294,978,000 after acquiring an additional 5,178,118 shares during the period. Rakuten Group Inc. acquired a new position in shares of Lyft during the first quarter valued at $130,434,000. AQR Capital Management LLC boosted its holdings in Lyft by 103.3% in the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock valued at $110,598,000 after acquiring an additional 4,980,876 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Lyft by 15.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company's stock worth $120,463,000 after purchasing an additional 1,224,056 shares during the period. Institutional investors own 83.07% of the company's stock.

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.