Lyft (NASDAQ:LYFT) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Lyft (NASDAQ:LYFT - Free Report) in a report published on Wednesday, Benzinga reports.

Several other equities analysts have also commented on the stock. Citigroup increased their price target on shares of Lyft from $13.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. UBS Group boosted their price target on shares of Lyft from $13.00 to $14.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Moffett Nathanson raised Lyft from a sell rating to a neutral rating in a report on Wednesday, February 14th. TD Cowen lifted their target price on Lyft from $10.00 to $12.00 and gave the stock a market perform rating in a research report on Monday, January 22nd. Finally, Wells Fargo & Company upped their price target on shares of Lyft from $15.00 to $18.00 and gave the company an equal weight rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $16.52.

Lyft Stock Up 7.1 %

Shares of Lyft stock traded up $1.18 during trading on Wednesday, hitting $17.78. 38,914,676 shares of the stock were exchanged, compared to its average volume of 16,607,658. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of -19.98 and a beta of 2.05. The firm's 50-day moving average price is $17.75 and its 200 day moving average price is $14.58. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping 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, analysts forecast that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lyft news, President Kristin Sverchek sold 5,670 shares of the company's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the sale, the president now directly owns 633,950 shares in the company, valued at $9,521,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Logan Green sold 11,867 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $15.69, for a total value of $186,193.23. Following the completion of the sale, the director now owns 346,341 shares of the company's stock, valued at $5,434,090.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the president now owns 633,950 shares of the company's stock, valued at $9,521,929. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,526 shares of company stock valued at $5,358,031. 3.16% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

Several institutional investors have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC grew its position in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company's stock valued at $26,000 after buying an additional 1,000 shares during the last quarter. Allworth Financial LP boosted its position in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 1,672 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Lyft in the first quarter worth $41,000. GAMMA Investing LLC boosted 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. Finally, a16z Perennial Management L.P. acquired a new stake in shares of Lyft in the 4th quarter worth about $34,000. Institutional investors own 83.07% of the company's stock.

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.