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

Key Points

• Lyft has a consensus broker rating of “Hold” from 37 analysts, with 3 sell, 21 hold, and 13 buy ratings. The average 12-month price target is $19.40.
• Recent analyst actions were mixed, including a new underperform rating from Sanford C. Bernstein, a buy rating and $28 target from Tigress Financial, and upgrades from BTIG and Zacks.
• Insiders have been selling shares, including CFO Erin Brewer and insider Lindsay Catherine Llewellyn, while institutional investors hold about 83.07% of Lyft’s stock.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) has been assigned an average recommendation of "Hold" from the thirty-seven brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.40.

LYFT has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on Lyft in a report on Wednesday, June 17th. They issued an "underperform" rating on the stock. Tigress Financial restated a "buy" rating and set a $28.00 price target on shares of Lyft in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upped their price target on shares of Lyft from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. BTIG Research upgraded shares of Lyft from a "neutral" rating to a "buy" rating in a research note on Wednesday, June 17th. Finally, Zacks Research upgraded shares of Lyft from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 20th.

Insider Buying and Selling at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Friday, June 12th. The shares were sold at an average price of $13.59, for a total transaction of $203,850.00. Following the transaction, the chief financial officer owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $354,915.00. Following the completion of the sale, the insider owned 916,022 shares of the company's stock, valued at $13,740,330. This trade 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 69,196 shares of company stock valued at $992,371 over the last three months. Insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Lyft by 7.4% during the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company's stock valued at $567,492,000 after purchasing an additional 1,773,438 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Lyft by 15.4% in the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company's stock worth $191,245,000 after purchasing an additional 1,320,938 shares during the period. Altshuler Shaham Ltd increased its stake in shares of Lyft by 51.6% in the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company's stock worth $101,905,000 after purchasing an additional 2,607,417 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lyft by 58.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company's stock worth $89,360,000 after purchasing an additional 2,467,010 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lyft in the fourth quarter worth $109,987,000. Institutional investors own 83.07% of the company's stock.

Lyft Price Performance

Shares of LYFT opened at $15.37 on Friday. The firm has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $15.20. The firm has a market cap of $5.84 billion, a PE ratio of 2.24, a P/E/G ratio of 0.91 and a beta of 1.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft has a 1-year low of $12.46 and a 1-year high of $25.54.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter last year, the business earned $0.01 earnings per share. The business's quarterly revenue was up 17.2% on a year-over-year basis. On average, equities analysts anticipate that Lyft will post 0.69 EPS for the current year.

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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