Lyft (NASDAQ:LYFT) Receives Hold Rating from Citigroup

Lyft (NASDAQ:LYFT - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Citigroup in a research note issued to investors on Friday,Benzinga reports. They currently have a $14.00 price objective on the ride-sharing company's stock, down from their previous price objective of $22.00. Citigroup's price target points to a potential downside of 11.67% from the company's current price.

LYFT has been the subject of a number of other reports. Needham & Company LLC reiterated a "hold" rating on shares of Lyft in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Canaccord Genuity Group restated a "hold" rating and issued a $14.00 target price (down from $22.00) on shares of Lyft in a research note on Friday. Oppenheimer reaffirmed an "outperform" rating and issued a $17.00 price target (up from $15.00) on shares of Lyft in a report on Friday, May 9th. Finally, The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-six have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Lyft currently has a consensus rating of "Hold" and an average target price of $16.36.

Lyft Stock Performance

Shares of LYFT stock opened at $15.85 on Friday. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 105.67, a PEG ratio of 3.05 and a beta of 2.22. Lyft has a 52-week low of $8.93 and a 52-week high of $19.07. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $14.68 and its 200 day moving average is $13.51.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The company's revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, sell-side analysts anticipate that Lyft will post 0.22 EPS for the current fiscal year.

Insider Activity at Lyft

In other news, CEO John David Risher purchased 6,538 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the acquisition, the chief executive officer now owns 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. This represents a 0.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the sale, the insider now owns 959,697 shares in the company, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,732 shares of company stock worth $347,159. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Spurstone Advisory Services LLC purchased a new position in shares of Lyft in the 4th quarter valued at about $25,000. GAMMA Investing LLC boosted its position in Lyft by 81.4% during 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 in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Lyft in the fourth quarter valued at approximately $35,000. FNY Investment Advisers LLC purchased a new stake in shares of Lyft in the first quarter valued at approximately $35,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Lyft in the first quarter valued at approximately $35,000. Institutional investors and hedge funds 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.

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