Lyft, Inc. (NASDAQ:LYFT) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Lyft has a consensus analyst rating of “Hold” from 33 brokerages, with 23 hold ratings, 8 buy ratings, and 2 sell ratings. The average 12-month price target is about $18.83.
• In its latest quarterly results, Lyft reported earnings of $0.04 per share, missing expectations, while revenue came in at $1.65 billion, slightly ahead of estimates and up 17.2% year over year.
• The company also has a $1 billion share buyback authorization, but insiders have recently sold stock, including director Jill Beggs and insider Lindsay Catherine Llewellyn, even as institutional ownership remains high at 83.07%.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) has been given a consensus rating of "Hold" by the thirty-three brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.8276.

LYFT has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Lyft from $26.00 to $18.00 and set an "equal weight" rating for the company in a report on Wednesday, February 11th. Mizuho decreased their price target on Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Evercore set a $21.00 price target on Lyft in a report on Wednesday, February 11th. TD Cowen restated a "buy" rating on shares of Lyft in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Lyft in a report on Wednesday, May 6th.

Insider Buying and Selling at Lyft

In other Lyft news, Director Jill Beggs sold 2,093 shares of the company'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 $28,799.68. Following the transaction, the director directly owned 30,092 shares of the company's stock, valued at $414,065.92. This represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 23,661 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $354,915.00. Following the sale, the insider directly owned 916,022 shares in the company, valued at approximately $13,740,330. This represents a 2.52% 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 have sold a total of 54,196 shares of company stock valued at $788,521 in the last three months. Corporate insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Lyft during the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the 4th quarter valued at approximately $40,000. Huntington National Bank raised its position in shares of 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. Abich Financial Wealth Management LLC acquired a new stake in shares of Lyft during the 3rd quarter valued at approximately $50,000. Finally, Boreal Capital Management LLC acquired a new stake in shares of Lyft during the 1st quarter valued at approximately $31,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Stock Up 2.7%

Shares of NASDAQ:LYFT opened at $14.02 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft has a 1 year low of $12.46 and a 1 year high of $25.54. The stock has a market capitalization of $5.32 billion, a P/E ratio of 2.05, a PEG ratio of 0.85 and a beta of 1.82. The stock has a 50-day simple moving average of $13.85 and a 200-day simple moving average of $16.06.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). The company had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm's revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. Equities analysts forecast that Lyft will post 0.66 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 10th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Lyft Company Profile

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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