Lyft (NASDAQ:LYFT) Upgraded by Mizuho to "Hold" Rating

Key Points

• Lyft has been upgraded to a "hold" rating by Mizuho, amid mixed analyst opinions with ten analysts rating it as a buy, twenty-one as hold, and one as sell.
• The company reported a loss of $0.10 earnings per share for the last quarter, missing estimates by $0.17, despite a year-over-year revenue increase of 10.6%.
• Insider activity shows significant stock sales, including Lindsay Catherine Llewellyn selling 28,356 shares at an average price of $15.85, decreasing their ownership by 3.23%.

Lyft (NASDAQ:LYFT - Get Free Report) was upgraded by research analysts at Mizuho to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

LYFT has been the topic of a number of other reports. Roth Capital upgraded shares of Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target on the stock in a research report on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Lyft in a research report on Wednesday, September 24th. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 target price on shares of Lyft in a report on Thursday, June 5th. TD Cowen raised their target price on shares of Lyft from $22.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Citigroup restated a "hold" rating and set a $14.00 target price (down from $22.00) on shares of Lyft in a report on Friday, June 27th. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $19.02.

Lyft Stock Performance

Lyft stock opened at $22.01 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft has a 1 year low of $9.66 and a 1 year high of $23.50. The company has a market cap of $8.95 billion, a PE ratio of 91.71, a PEG ratio of 3.59 and a beta of 2.33. The company's 50-day moving average is $17.14 and its two-hundred day moving average is $15.05.

Lyft (NASDAQ:LYFT - Get Free Report) last released 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 net margin of 1.51% and a return on equity of 14.32%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts anticipate that Lyft will post 0.22 earnings per share for the current year.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the transaction, the insider directly owned 850,388 shares of the company's stock, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Erin Brewer sold 15,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer directly owned 540,759 shares of the company's stock, valued at $8,241,167.16. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its position in Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 1,203 shares during the period. Atwood & Palmer Inc. bought a new position in Lyft in the second quarter valued at about $32,000. GAMMA Investing LLC grew its holdings in shares of 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 during the last quarter. Bogart Wealth LLC grew its holdings in shares of Lyft by 1,242.2% during the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company's stock worth $34,000 after purchasing an additional 2,000 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Lyft during the first quarter worth about $35,000. 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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