Recent Analysts’ Ratings Changes for Lyft (LYFT)

Lyft (NASDAQ: LYFT) recently received a number of ratings updates from brokerages and research firms:

• 11/8/2024 – Lyft had its price target raised by analysts at Barclays PLC from $14.00 to $20.00. They now have an “equal weight” rating on the stock.
• 11/7/2024 – Lyft had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $23.00 price target on the stock, up previously from $17.00.
• 11/7/2024 – Lyft had its price target raised by analysts at DA Davidson from $11.00 to $16.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Lyft had its price target raised by analysts at UBS Group AG from $13.00 to $18.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Lyft had its price target raised by analysts at Roth Mkm from $13.00 to $16.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Lyft had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $20.00 price target on the stock, up previously from $12.00.
• 11/7/2024 – Lyft had its price target raised by analysts at Cantor Fitzgerald from $13.00 to $16.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Lyft had its price target raised by analysts at BMO Capital Markets from $13.00 to $18.00. They now have a “market perform” rating on the stock.
• 11/7/2024 – Lyft had its price target raised by analysts at Evercore ISI from $17.00 to $19.00. They now have an “in-line” rating on the stock.
• 11/7/2024 – 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.
• 11/7/2024 – Lyft had its price target raised by analysts at Truist Financial Co. from $13.00 to $20.00. They now have a “hold” rating on the stock.
• 11/7/2024 – Lyft had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 11/7/2024 – Lyft had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 11/7/2024 – Lyft had its price target raised by analysts at Morgan Stanley from $16.50 to $18.00. They now have an “equal weight” rating on the stock.
• 11/7/2024 – Lyft had its price target raised by analysts at Bank of America Co. from $16.00 to $19.00. They now have a “buy” rating on the stock.
• 11/7/2024 – Lyft had its price target raised by analysts at Canaccord Genuity Group Inc. from $18.00 to $22.00. They now have a “buy” rating on the stock.
• 10/25/2024 – Lyft is now covered by analysts at Benchmark Co.. They set a “hold” rating on the stock.
• 10/22/2024 – Lyft had its price target raised by analysts at Jefferies Financial Group Inc. from $10.50 to $13.00. They now have a “hold” rating on the stock.
• 10/18/2024 – Lyft had its “underperform” rating reaffirmed by analysts at Wedbush.
• 10/18/2024 – Lyft had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company.
• 10/18/2024 – Lyft had its price target raised by analysts at UBS Group AG from $12.00 to $13.00. They now have a “neutral” rating on the stock.
• 10/7/2024 – Lyft had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $13.00 price target on the stock.
• 9/30/2024 – Lyft had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $13.00 price target on the stock.
• 9/24/2024 – Lyft is now covered by analysts at Raymond James. They set a “market perform” rating on the stock.
• 9/23/2024 – Lyft had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $13.00 price target on the stock.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $18.13 on Monday. The business has a fifty day moving average price of $12.96 and a two-hundred day moving average price of $13.49. The stock has a market capitalization of $7.44 billion, a PE ratio of -113.31 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the business posted ($0.02) earnings per share. Lyft’s revenue was up 31.6% compared to the same quarter last year. As a group, equities analysts predict that Lyft, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated 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 directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the transaction, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,664 shares of company stock worth $380,048. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Lyft during the second quarter worth about $35,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft during the 2nd quarter worth approximately $35,000. Capital Performance Advisors LLP bought a new stake in Lyft during the 3rd quarter worth approximately $38,000. Allspring Global Investments Holdings LLC acquired a new position in Lyft in the 1st quarter valued at approximately $41,000. Finally, Quarry LP raised its stake in shares of Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after acquiring an additional 3,468 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.