Analysts Set Lyft, Inc. (NASDAQ:LYFT) Target Price at $16.87

Key Points

• Lyft, Inc. has received a consensus recommendation of "Hold" from 30 brokerages, with one sell, twenty holds, and nine buy ratings.
• The average 12-month price target for Lyft shares among analysts is $16.87, reflecting various adjustments and recommendations.
• Lyft reported a loss of $0.10 EPS in its latest quarterly results, missing estimates, despite a year-over-year revenue increase of 10.6%.

Shares of Lyft, Inc. (NASDAQ:LYFT - Get Free Report) have earned an average recommendation of "Hold" from the thirty research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $16.8704.

LYFT has been the topic of several recent research reports. TD Cowen upgraded Lyft from a "hold" rating to a "buy" rating and upped their price target for the stock from $16.00 to $21.00 in a report on Tuesday, June 24th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price objective on shares of Lyft in a report on Thursday, June 5th. Wells Fargo & Company increased their price objective on Lyft from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Roth Capital upgraded Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Thursday, August 7th. Finally, Citigroup reiterated a "hold" rating and issued a $14.00 price objective (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th.

Insider Buying and Selling

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the transaction, the insider directly owned 850,388 shares in the company, valued at approximately $13,478,649.80. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John David Risher bought 5,926 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 59,821 shares of company stock valued at $960,566. 3.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently added to or reduced their stakes in LYFT. The Manufacturers Life Insurance Company increased its stake in Lyft by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock valued at $1,081,000 after purchasing an additional 1,132 shares during the last quarter. Northern Trust Corp increased its stake in Lyft by 18.0% in the fourth quarter. Northern Trust Corp now owns 1,951,636 shares of the ride-sharing company's stock valued at $25,176,000 after purchasing an additional 297,961 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Lyft by 90.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,544 shares of the ride-sharing company's stock valued at $368,000 after purchasing an additional 13,528 shares during the last quarter. Captrust Financial Advisors increased its stake in Lyft by 169.2% in the fourth quarter. Captrust Financial Advisors now owns 29,112 shares of the ride-sharing company's stock valued at $376,000 after purchasing an additional 18,299 shares during the last quarter. Finally, Cresset Asset Management LLC increased its stake in Lyft by 42.6% in the fourth quarter. Cresset Asset Management LLC now owns 24,739 shares of the ride-sharing company's stock valued at $319,000 after purchasing an additional 7,396 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Up 2.7%

NASDAQ LYFT traded up $0.51 during trading hours on Friday, hitting $18.90. 18,997,314 shares of the company were exchanged, compared to its average volume of 18,337,678. The company has a 50 day moving average of $15.36 and a two-hundred day moving average of $14.11. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft has a 52-week low of $9.66 and a 52-week high of $19.35. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 78.73, a PEG ratio of 2.89 and a beta of 2.33.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the company earned $0.24 EPS. Lyft's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Lyft will post 0.22 earnings per share for the current 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.