Lyft, Inc. (NASDAQ:LYFT) Receives Consensus Recommendation of “Hold” from Analysts

Lyft, Inc. (NASDAQ:LYFT) has earned an average rating of “Hold” from the thirty-seven analysts that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.40.

LYFT has been the topic of a number of recent research reports. Rothschild & Co Redburn upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, June 17th. Morgan Stanley raised shares of Lyft from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 17th. Guggenheim reissued a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. DA Davidson cut their price target on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, BTIG Research raised Lyft from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 17th.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft announced it is giving free rides to New Yorkers traveling to job interviews and work, a move that could boost brand visibility and underscore its role in improving access to employment. Lyft is giving free rides to New Yorkers heading to job interviews and work
• Positive Sentiment: Lyft named Senthil Padmanabhan as CTO, which could support product development and technology execution at a time when the company is focused on mobility and automation initiatives. Senthil Padmanabhan Named CTO At Lyft
• Positive Sentiment: Lyft also said it will acquire Serveo’s Spanish bikeshare operations unit, signaling continued expansion in micromobility and international opportunities that could broaden revenue streams. Lyft to acquire Serveo’s Spanish bikeshare operations unit
• Neutral Sentiment: A Seeking Alpha opinion piece argued that Lyft could have further upside, but this is commentary rather than company news and is unlikely by itself to move the stock. Lyft: The Ride Is Bound For Upside
• Neutral Sentiment: Short-interest data showed no meaningful change in reported shares, so it does not appear to provide a clear new catalyst.
• Negative Sentiment: Lyft was downgraded by Zacks Research from “hold” to “strong sell,” which can weigh on sentiment and contribute to selling pressure. Zacks.com downgrade
• Negative Sentiment: New Orleans may add a $1 fee to Uber, Lyft and taxi rides, a potential cost headwind that could hurt ride demand or margins in that market. New Orleans may add $1 fee to Uber, Lyft and taxi rides

Lyft Price Performance

LYFT stock traded down $0.13 during mid-day trading on Friday, hitting $15.61. 8,818,542 shares of the stock were exchanged, compared to its average volume of 12,106,590. The business has a fifty day moving average price of $14.18 and a 200 day moving average price of $15.07. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 2.28, a PEG ratio of 0.93 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. Lyft’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 earnings per share. On average, sell-side analysts anticipate that Lyft will post 0.69 EPS for the current year.

Insider Buying and Selling

In related news, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the transaction, the chief financial officer directly owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of Lyft stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the transaction, the chief accounting officer directly owned 335,463 shares in the company, valued at $4,615,970.88. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 69,196 shares of company stock valued at $992,371. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

Several hedge funds and other institutional investors have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Lyft during the 4th quarter valued at about $26,000. International Assets Investment Management LLC purchased a new stake in Lyft in the 4th quarter worth approximately $40,000. Huntington National Bank lifted its holdings in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 1,374 shares during the period. Boreal Capital Management LLC bought a new stake in shares of Lyft in the 1st quarter worth approximately $31,000. Finally, CI Investments Inc. grew its position in shares of Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after buying an additional 653 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.