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

Key Points

• Lyft, Inc. has received a consensus rating of "Hold" from analysts, with one sell recommendation, twenty-one holds, and ten buys, while the average 1-year price target is $19.02.
• The company's stock performance shows a 1-year low of $9.66 and a high of $23.50, with an opening price of $21.82.
• Lyft reported $0.10 earnings per share (EPS) for the last quarter, falling short of analysts' expected $0.27 EPS, with quarterly revenue of $1.59 billion, slightly below the consensus estimate of $1.61 billion.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) has earned an average recommendation of "Hold" from the thirty-two ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $19.0172.

LYFT has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. Jefferies Financial Group increased their price target on shares of Lyft from $15.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, September 18th. Mizuho initiated coverage on shares of Lyft in a research note on Tuesday. They issued a "neutral" rating and a $24.00 price target for the company. Cowen reissued a "buy" rating on shares of Lyft in a research note on Wednesday, September 24th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 price objective on shares of Lyft in a report on Thursday, June 5th.

Lyft Price Performance

LYFT stock opened at $21.82 on Thursday. Lyft has a 1 year low of $9.66 and a 1 year high of $23.50. The company has a market cap of $8.87 billion, a P/E ratio of 90.92, a PEG ratio of 3.44 and a beta of 2.40. The firm has a 50-day moving average of $17.28 and a 200 day moving average of $15.09. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company earned $0.24 earnings per share. Lyft's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts forecast that Lyft will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer owned 525,759 shares in the company, valued at approximately $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the sale, the insider owned 835,782 shares in the company, valued at approximately $16,715,640. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,427 shares of company stock worth $1,252,686. 3.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

A number of institutional investors have recently made changes to their positions in LYFT. AQR Capital Management LLC lifted its position in Lyft by 144.9% during the second quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company's stock valued at $378,396,000 after purchasing an additional 14,205,143 shares during the period. Rakuten Group Inc. bought a new position in Lyft during the first quarter valued at approximately $130,434,000. Ameriprise Financial Inc. lifted its position in 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 purchasing an additional 5,178,118 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Lyft by 83,744.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company's stock valued at $37,331,000 after purchasing an additional 3,141,240 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in Lyft by 415.2% during the second quarter. Los Angeles Capital Management LLC now owns 3,714,935 shares of the ride-sharing company's stock valued at $58,547,000 after purchasing an additional 2,993,807 shares during the period. Hedge funds and other 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.

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