Lyft (NASDAQ:LYFT) Shares Down 2.8% - What's Next?

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) shares traded down 2.8% on Wednesday . The company traded as low as $14.70 and last traded at $14.53. 3,625,474 shares were traded during mid-day trading, a decline of 77% from the average session volume of 16,030,875 shares. The stock had previously closed at $14.95.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley reduced their price target on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen downgraded shares of Lyft from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Barclays upped their price objective on shares of Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, twenty-six have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Lyft currently has a consensus rating of "Hold" and an average price target of $16.40.

Lyft Trading Down 1.5%

The firm has a market cap of $6.15 billion, a P/E ratio of 98.13, a PEG ratio of 2.84 and a beta of 2.22. The company's 50 day moving average is $14.10 and its two-hundred day moving average is $13.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 11.28% and a net margin of 0.95%. Lyft'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 EPS. On average, sell-side analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the sale, the insider now owns 959,697 shares of the company's stock, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John David Risher purchased 6,538 shares of the business's 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 directly owns 11,791,340 shares in the company, valued at $180,289,588.60. The trade was a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 26,732 shares of company stock valued at $347,159 over the last quarter. Corporate insiders own 3.07% of the company's stock.

Institutional Trading of Lyft

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in shares of Lyft by 6.9% in the 4th quarter. Empowered Funds LLC now owns 21,292 shares of the ride-sharing company's stock worth $275,000 after acquiring an additional 1,382 shares in the last quarter. Van ECK Associates Corp boosted its stake in Lyft by 14.0% in the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company's stock worth $5,146,000 after purchasing an additional 49,138 shares in the last quarter. Allworth Financial LP boosted its stake in Lyft by 25.9% in the fourth quarter. Allworth Financial LP now owns 9,171 shares of the ride-sharing company's stock worth $123,000 after purchasing an additional 1,889 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Lyft by 34.0% during the fourth quarter. Sanctuary Advisors LLC now owns 38,117 shares of the ride-sharing company's stock worth $517,000 after purchasing an additional 9,663 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Lyft by 8.3% in the fourth quarter. Venturi Wealth Management LLC now owns 60,808 shares of the ride-sharing company's stock valued at $784,000 after buying an additional 4,660 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

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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