Analysts’ Weekly Ratings Changes for Lyft (LYFT)

Several analysts have recently updated their ratings and price targets for Lyft (NASDAQ: LYFT):

• 7/22/2024 – Lyft is now covered by analysts at Melius Research. They set a “hold” rating and a $15.00 price target on the stock.
• 7/22/2024 – Lyft is now covered by analysts at Melius. They set a “hold” rating and a $15.00 price target on the stock.
• 7/16/2024 – Lyft is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 7/15/2024 – Lyft had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 6/28/2024 – Lyft had its price target lowered by analysts at Wells Fargo & Company from $18.00 to $17.00. They now have an “equal weight” rating on the stock.
• 6/7/2024 – Lyft was upgraded by analysts at Vertical Research to a “strong-buy” rating.
• 6/7/2024 – Lyft had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $24.00 price target on the stock, up previously from $23.00.
• 6/7/2024 – Lyft was upgraded by analysts at Fox Advisors from an “equal weight” rating to an “overweight” rating. They now have a $20.00 price target on the stock.
• 6/7/2024 – Lyft had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $24.00 price target on the stock.
• 6/7/2024 – Lyft had its price target raised by analysts at The Goldman Sachs Group, Inc. from $19.00 to $21.00. They now have a “neutral” rating on the stock.
• 6/7/2024 – Lyft had its price target raised by analysts at Wedbush from $18.00 to $19.00. They now have a “neutral” rating on the stock.
• 6/7/2024 – Lyft had its price target raised by analysts at BMO Capital Markets from $18.00 to $19.00. They now have a “market perform” rating on the stock.
• 6/7/2024 – Lyft had its price target raised by analysts at TD Cowen from $16.00 to $18.00. They now have a “hold” rating on the stock.
• 6/7/2024 – Lyft had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 6/7/2024 – Lyft had its price target raised by analysts at Morgan Stanley from $17.00 to $18.00. They now have an “equal weight” rating on the stock.
• 6/7/2024 – Lyft had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $23.00 price target on the stock.
• 6/7/2024 – Lyft was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock.
• 6/7/2024 – Lyft was upgraded by analysts at Gordon Haskett from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock, up previously from $17.00.
• 6/7/2024 – Lyft was upgraded by analysts at Bank of America Co. from an “underperform” rating to a “buy” rating. They now have a $20.00 price target on the stock, up previously from $15.00.
• 5/30/2024 – Lyft had its “hold” rating reaffirmed by analysts at Needham & Company LLC.

Lyft Stock Performance

Shares of NASDAQ:LYFT opened at $12.21 on Friday. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of -25.98 and a beta of 2.06. The firm’s 50-day moving average is $14.21 and its 200 day moving average is $15.51. Lyft, Inc. has a 12 month low of $8.85 and a 12 month high of $20.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. Research analysts predict that Lyft, Inc. will post -0.18 EPS for the current year.

Insider Transactions at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the sale, the chief accounting officer now owns 351,853 shares in the company, valued at $5,513,536.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Kristin Sverchek sold 6,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00. Following the completion of the transaction, the president now directly owns 64,278 shares of the company’s stock, valued at $998,880.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the transaction, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,333 shares of company stock worth $680,974. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC boosted its position 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 in the last quarter. Allworth Financial LP raised its stake in shares of Lyft by 685.2% during the fourth 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. a16z Perennial Management L.P. purchased a new stake in Lyft during the 4th quarter worth $34,000. Kapitalo Investimentos Ltda acquired a new stake in Lyft during the 4th quarter valued at approximately $34,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Lyft during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.