Lyft, Inc. (NASDAQ:LYFT) Receives $15.65 Consensus Target Price from Analysts

Lyft, Inc. (NASDAQ:LYFT) has earned a consensus recommendation of “Hold” from the thirty-six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Twenty-six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $15.65.

LYFT has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. TD Cowen cut their price objective on Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Melius Research assumed coverage on Lyft in a report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Wells Fargo & Company cut their price target on shares of Lyft from $17.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup 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.

Insider Activity at Lyft

In other Lyft news, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.81, for a total value of $41,430.00. Following the sale, the president now owns 47,778 shares in the company, valued at $659,814.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lyft news, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the sale, the president now directly owns 47,778 shares in the company, valued at $659,814.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the transaction, the insider now directly owns 760,089 shares of the company’s stock, valued at approximately $9,121,068. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,664 shares of company stock worth $421,478. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of LYFT. Norges Bank acquired a new position in shares of Lyft in the fourth quarter worth $94,687,000. Kodai Capital Management LP purchased a new stake in Lyft during the 4th quarter worth about $26,069,000. Bank of Nova Scotia purchased a new stake in Lyft during the 4th quarter worth about $21,433,000. Price T Rowe Associates Inc. MD raised its position in Lyft by 592.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after purchasing an additional 1,218,620 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Lyft by 27,739.2% in the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock valued at $16,665,000 after buying an additional 1,188,625 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Trading Down 0.5 %

Lyft stock opened at $13.28 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $5.45 billion, a PE ratio of -28.25 and a beta of 2.04. The stock has a 50-day moving average of $11.55 and a two-hundred day moving average of $14.58. Lyft has a one year low of $8.85 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. Lyft’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the firm posted ($0.14) EPS. On average, research analysts anticipate that Lyft will post -0.16 EPS 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.