Lyft, Inc. (NASDAQ:LYFT) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Lyft, with 22 hold, 13 buy, and 2 sell ratings among 37 brokerages. The average 12-month price target is $19.80.
• Lyft reported quarterly revenue of $1.84 billion, up 16.1% year over year and above estimates, but adjusted earnings of $0.13 per share narrowly missed the $0.14 consensus.
• Shares opened at $17.47, while recent insider transactions showed company insiders selling 95,969 shares worth approximately $1.46 million. Institutional investors own 83.07% of Lyft’s outstanding stock.

Shares of Lyft, Inc. (NASDAQ:LYFT - Get Free Report) have been given an average recommendation of "Hold" by the thirty-seven brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.80.

A number of equities analysts recently issued reports on LYFT shares. Truist Financial increased their target price on Lyft from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Cantor Fitzgerald boosted their price target on shares of Lyft from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Susquehanna restated a "neutral" rating and set a $18.00 price target on shares of Lyft in a research note on Monday, August 10th. Weiss Ratings restated a "hold (c)" rating on shares of Lyft in a report on Monday, August 3rd. Finally, Canaccord Genuity Group raised their price objective on shares of Lyft from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Monday, August 10th.

Lyft Stock Performance

Shares of Lyft stock opened at $17.47 on Friday. The business has a 50-day simple moving average of $15.61 and a 200 day simple moving average of $14.50. Lyft has a one year low of $12.46 and a one year high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 2.54, a PEG ratio of 0.98 and a beta of 1.80.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The firm's revenue was up 16.1% on a year-over-year basis. On average, research analysts anticipate that Lyft will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 36,214 shares of Lyft stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $16.14, for a total transaction of $584,493.96. Following the completion of the transaction, the insider owned 817,517 shares in the company, valued at approximately $13,194,724.38. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the sale, the chief accounting officer directly owned 335,463 shares of the company's stock, valued at $4,615,970.88. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,969 shares of company stock valued at $1,463,690 over the last quarter. 0.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Lyft during the fourth quarter valued at approximately $26,000. Plato Investment Management Ltd purchased a new stake in Lyft in the 2nd quarter valued at $27,000. International Assets Investment Management LLC purchased a new stake in Lyft in the 4th quarter valued at $40,000. Huntington National Bank lifted its stake in Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company's stock valued at $42,000 after acquiring an additional 1,374 shares in the last quarter. Finally, Boreal Capital Management LLC bought a new position in Lyft during the 1st quarter valued at $31,000. Institutional investors own 83.07% of the company's stock.

About Lyft

Lyft, Inc NASDAQ: LYFT operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft's platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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