Lyft’s (LYFT) “Hold” Rating Reiterated at Benchmark

Benchmark restated their hold rating on shares of Lyft (NASDAQ:LYFT) in a research report report published on Thursday,Benzinga reports.

LYFT has been the topic of several other research reports. Royal Bank of Canada lowered their price target on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays lowered their price target on Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. UBS Group increased their price objective on Lyft from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Canaccord Genuity Group cut their price objective on Lyft from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Loop Capital dropped their price target on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Twenty-eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.23.

Lyft Stock Up 0.5 %

Shares of NASDAQ:LYFT traded up $0.09 during trading on Thursday, reaching $17.78. The stock had a trading volume of 28,925,410 shares, compared to its average volume of 13,179,118. Lyft has a one year low of $8.93 and a one year high of $20.82. The company has a market capitalization of $7.29 billion, a P/E ratio of -111.13 and a beta of 2.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm’s 50-day simple moving average is $12.96 and its 200 day simple moving average is $13.54.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) EPS. As a group, research analysts expect that Lyft will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Lyft news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock valued at $380,048 in the last three months. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in Lyft in the 1st quarter valued at $41,000. Brown Brothers Harriman & Co. bought a new position in Lyft in the 2nd quarter valued at $35,000. International Assets Investment Management LLC bought a new position in Lyft in the 2nd quarter valued at $35,000. Capital Performance Advisors LLP bought a new position in Lyft in the 3rd quarter valued at $38,000. Finally, Quarry LP raised its position in Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 3,468 shares during the last quarter. 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.