Lyft (NASDAQ:LYFT) Trading Down 2.8%

Lyft, Inc. (NASDAQ:LYFT - Get Free Report)'s stock price was down 2.8% on Monday . The company traded as low as $15.90 and last traded at $15.91. Approximately 964,503 shares changed hands during trading, a decline of 94% from the average daily volume of 16,276,851 shares. The stock had previously closed at $16.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial raised their target price on shares of Lyft from $13.00 to $15.00 and gave the stock a "hold" rating in a report on Wednesday, February 14th. Piper Sandler boosted their price objective on Lyft from $17.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. The Goldman Sachs Group downgraded Lyft from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $12.00 to $15.00 in a research note on Thursday, January 11th. UBS Group raised their target price on Lyft from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. Finally, TD Cowen boosted their price target on shares of Lyft from $10.00 to $12.00 and gave the company a "market perform" rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $14.60.

Lyft Trading Down 0.4 %

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $17.74 and a 200-day moving average price of $14.28. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of -18.31 and a beta of 1.98.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. As a group, sell-side analysts predict that Lyft, Inc. will post -0.35 EPS for the current year.

Insider Activity

In related news, President Kristin Sverchek sold 5,670 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the sale, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Logan Green sold 11,867 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $15.69, for a total transaction of $186,193.23. Following the completion of the sale, the director now directly owns 346,341 shares of the company's stock, valued at $5,434,090.29. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,526 shares of company stock worth $5,195,771. Corporate insiders own 3.16% of the company's stock.

Institutional Trading of Lyft

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company's stock valued at $43,000 after acquiring an additional 664 shares during the period. Commerce Bank grew its position in Lyft by 2.9% during the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company's stock worth $414,000 after purchasing an additional 782 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in Lyft by 21.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company's stock valued at $68,000 after purchasing an additional 814 shares during the period. CWM LLC lifted its holdings in shares of Lyft by 15.4% in the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company's stock valued at $123,000 after purchasing an additional 1,093 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Lyft by 1.4% in the third quarter. Arizona State Retirement System now owns 94,693 shares of the ride-sharing company's stock worth $998,000 after buying an additional 1,291 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.