Lyft (NASDAQ:LYFT) Now Covered by Mizuho

Key Points

• Mizuho has initiated coverage on Lyft (NASDAQ:LYFT) stock with a "neutral" rating and a price target of $24.00, indicating a potential upside of 4.67% from the current price.
• The company reported earnings per share (EPS) of $0.10 for the last quarter, missing the analysts' consensus estimate of $0.27, while its revenue increased by 10.6% year-over-year.
• CEO John David Risher bought 5,926 shares of Lyft, while CFO Erin Brewer sold 15,000 shares, reflecting notable insider trading activity.

Stock analysts at Mizuho started coverage on shares of Lyft (NASDAQ:LYFT - Get Free Report) in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage set a "neutral" rating and a $24.00 price target on the ride-sharing company's stock. Mizuho's target price indicates a potential upside of 4.67% from the stock's current price.

LYFT has been the topic of a number of other reports. Morgan Stanley boosted their target price on Lyft from $19.00 to $20.50 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Susquehanna cut their price target on Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Cowen restated a "buy" rating on shares of Lyft in a report on Wednesday, September 24th. Bank of America boosted their target price on Lyft from $12.00 to $14.00 and gave the stock an "underperform" rating in a report on Thursday, September 18th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 target price on shares of Lyft in a research note on Thursday, June 5th. Ten analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Lyft currently has an average rating of "Hold" and a consensus price target of $19.02.

Lyft Trading Up 4.8%

Lyft stock opened at $22.93 on Tuesday. Lyft has a 1 year low of $9.66 and a 1 year high of $23.50. The firm's 50-day moving average is $17.00 and its 200-day moving average is $15.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $9.32 billion, a P/E ratio of 95.55, a PEG ratio of 3.42 and a beta of 2.33.

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

Insider Buying and Selling

In other Lyft news, CEO John David Risher bought 5,926 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were bought at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the transaction, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $258,600.00. Following the sale, the chief financial officer owned 525,759 shares of the company's stock, valued at approximately $9,064,085.16. This represents a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,427 shares of company stock worth $1,252,686 over the last three months. 3.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its stake in 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 valued at $31,000 after buying an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new position in Lyft during the 2nd quarter worth about $32,000. GAMMA Investing LLC raised its stake in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after purchasing an additional 1,237 shares during the period. Bogart Wealth LLC lifted 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 valued at $34,000 after purchasing an additional 2,000 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Lyft during the 1st quarter worth approximately $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

About Lyft

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.

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