Lyft, Inc. (NASDAQ:LYFT) Receives $16.70 Average Price Target from Brokerages

Key Points

• Lyft, Inc. has received an average rating of "Hold" from 32 research firms, with 22 firms recommending holding the stock, 9 giving it a buy rating, and 1 a sell rating.
• The company's recent quarterly earnings reported an earnings per share (EPS) of $0.10, missing analyst expectations of $0.27 EPS by $0.17.
• Insider trading activity showed a director selling shares, reducing their ownership by 7.13% after the transaction, and institutional investors own 83.07% of the company's stock.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) has received an average rating of "Hold" from the thirty-two analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $16.6964.

A number of equities analysts have issued reports on LYFT shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $21.00 price target on shares of Lyft in a research note on Thursday, June 5th. Needham & Company LLC reiterated a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Sanford C. Bernstein lifted their price target on Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. UBS Group lifted their price target on Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, Citigroup reiterated a "hold" rating and set a $14.00 price target (down previously from $22.00) on shares of Lyft in a research note on Friday, June 27th.

Lyft Stock Up 8.2%

Shares of LYFT traded up $1.20 during trading hours on Wednesday, hitting $15.82. The stock had a trading volume of 35,358,000 shares, compared to its average volume of 18,150,459. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $13.76. The firm has a market capitalization of $6.61 billion, a P/E ratio of 65.92, a price-to-earnings-growth ratio of 2.38 and a beta of 2.26. Lyft has a 1-year low of $9.66 and a 1-year high of $19.07.

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

Insider Buying and Selling at Lyft

In other Lyft news, Director Jill Beggs sold 1,572 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the sale, the director owned 20,467 shares of the company's stock, valued at $335,863.47. The trade was a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $38,299.20. Following the sale, the director directly owned 879,498 shares in the company, valued at $13,896,068.40. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.07% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LYFT. Spurstone Advisory Services LLC bought a new position in shares of Lyft in the fourth quarter worth $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 1,203 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Lyft in the second quarter worth $32,000. GAMMA Investing LLC increased its holdings in shares of Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after purchasing an additional 1,237 shares during the period. Finally, Bogart Wealth LLC increased its holdings in shares of Lyft by 1,242.2% in the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company's stock worth $34,000 after purchasing an additional 2,000 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.