Brokerages Set Lyft, Inc. (NASDAQ:LYFT) Target Price at $15.65

Lyft, Inc. (NASDAQ:LYFT) has been given an average rating of “Hold” by the thirty-six research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $15.68.

LYFT has been the subject of several recent research reports. Wolfe Research initiated coverage on shares of Lyft in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $13.00 target price on shares of Lyft in a report on Monday, October 7th. BMO Capital Markets cut their target price on shares of Lyft from $19.00 to $13.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Melius assumed coverage on shares of Lyft in a report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Finally, Truist Financial cut their price target on shares of Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, August 8th.

Insider Activity

In other news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the transaction, the director now owns 932,062 shares of the company’s stock, valued at $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the transaction, the insider now directly owns 760,089 shares in the company, valued at $9,121,068. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,664 shares of company stock valued at $380,048. 3.07% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently bought and sold shares of the business. FinTrust Capital Advisors LLC increased its stake in Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Lyft during the first quarter worth about $41,000. GAMMA Investing LLC increased its stake in Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after purchasing an additional 664 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Lyft during the fourth quarter worth about $34,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Lyft during the second quarter worth about $35,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $14.04 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft has a 12 month low of $8.85 and a 12 month high of $20.82. The company has a 50 day simple moving average of $12.12 and a two-hundred day simple moving average of $13.83. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -29.87 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) EPS. As a group, analysts predict that Lyft will post -0.09 earnings per share for the current year.

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.