Lyft, Inc. (NASDAQ:LYFT) Receives $15.65 Average Price Target from Brokerages

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given a consensus rating of “Hold” by the thirty-six analysts that are currently covering the firm, Marketbeat Ratings reports. Twenty-six equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $15.65.

A number of analysts have weighed in on the stock. Vertical Research raised shares of Lyft to a “strong-buy” rating in a report on Friday, June 7th. Barclays cut their price target on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Susquehanna decreased their price objective on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Fox Advisors raised Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Friday, June 7th.

Insider Activity

In other Lyft news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction 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 sale, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the transaction, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Logan Green sold 10,323 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the sale, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. The disclosure for this sale can be found here. In the last three months, insiders sold 35,664 shares of company stock worth $421,478. Company insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC lifted its stake in shares of Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft during the first quarter worth $41,000. GAMMA Investing LLC grew its position in shares of Lyft by 42.9% in the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Lyft in the fourth quarter valued at $34,000. Finally, Brown Brothers Harriman & Co. purchased a new position 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 LYFT stock opened at $13.28 on Friday. Lyft has a 12 month low of $8.85 and a 12 month high of $20.82. 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 company has a market cap of $5.45 billion, a P/E ratio of -28.25 and a beta of 2.04. The firm has a fifty day moving average price of $11.55 and a 200 day moving average price of $14.58.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.14) EPS. Sell-side analysts predict that Lyft will post -0.16 earnings per share for the current fiscal 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.