Lyft (NASDAQ:LYFT) Releases Earnings Results, Misses Estimates By $0.10 EPS

Lyft (NASDAQ:LYFT) posted its quarterly earnings results on Tuesday. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10), Zacks reports. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%.

Lyft Stock Down 4.8 %

NASDAQ LYFT traded down $0.73 during trading hours on Tuesday, hitting $14.39. 51,882,558 shares of the company were exchanged, compared to its average volume of 16,912,088. The company has a 50 day moving average of $14.05 and a two-hundred day moving average of $13.51. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -89.94, a PEG ratio of 1.94 and a beta of 2.16.

Wall Street Analyst Weigh In

Several research firms have commented on LYFT. Loop Capital raised their price objective on Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group cut their price target on Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Bank of America upped their price objective on shares of Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush cut their target price on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Cantor Fitzgerald upped their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.84.

Insider Buying and Selling

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.07% of the stock is owned by insiders.

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.