Lyft, Inc. (NASDAQ:LYFT) Receives $17.13 Average Price Target from Analysts

Lyft, Inc. (NASDAQ:LYFT) has been given an average recommendation of “Hold” by the thirty-seven research firms that are covering the company, Marketbeat.com reports. Twenty-six 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 company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $17.03.

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald lowered their price objective on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Roth Capital reiterated a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. Evercore ISI cut their price objective on Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Wednesday, February 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target (down previously from $23.00) on shares of Lyft in a report on Wednesday, February 12th.

Lyft Trading Up 2.0 %

Shares of NASDAQ:LYFT opened at $11.98 on Friday. The business’s 50-day moving average is $13.05 and its 200 day moving average is $13.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft has a 1 year low of $8.93 and a 1 year high of $20.40. The firm has a market capitalization of $5.01 billion, a P/E ratio of 199.67, a P/E/G ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, research analysts predict that Lyft will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its board has initiated a share buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Logan Green sold 11,411 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,407 shares of company stock worth $203,778 over 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 company. Vanguard Group Inc. increased its holdings in shares of Lyft by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock worth $464,434,000 after buying an additional 984,907 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Lyft by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock worth $230,174,000 after acquiring an additional 80,675 shares during the last quarter. Pacer Advisors Inc. raised its position in Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after purchasing an additional 2,302,248 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Lyft by 15.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock valued at $120,463,000 after purchasing an additional 1,224,056 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock worth $111,240,000 after purchasing an additional 6,365,727 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.