Lyft’s (LYFT) Overweight Rating Reiterated at Piper Sandler

Lyft (NASDAQ:LYFT)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a research report issued on Friday,Benzinga reports. They currently have a $21.00 price target on the ride-sharing company’s stock, up from their prior price target of $20.00. Piper Sandler’s price objective would indicate a potential upside of 21.70% from the stock’s previous close.

A number of other analysts have also commented on LYFT. Truist Financial boosted their price objective on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. BTIG Research raised shares of Lyft from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 17th. Tigress Financial reissued a “buy” rating and set a $28.00 price target on shares of Lyft in a research report on Wednesday, June 24th. Oppenheimer initiated coverage on Lyft in a report on Wednesday, June 17th. They issued an “outperform” rating for the company. Finally, DA Davidson lowered their target price on Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Lyft has a consensus rating of “Hold” and an average target price of $19.50.

Lyft Stock Up 5.9%

Shares of LYFT stock traded up $0.95 on Friday, hitting $17.25. 12,543,680 shares of the stock were exchanged, compared to its average volume of 15,124,954. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $6.55 billion, a P/E ratio of 2.51, a price-to-earnings-growth ratio of 0.98 and a beta of 1.80. The business has a 50-day moving average of $14.88 and a 200 day moving average of $14.53. Lyft has a fifty-two week low of $12.46 and a fifty-two week high of $25.54.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. Equities analysts anticipate that Lyft will post 0.69 EPS for the current year.

Insider Activity

In related news, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This trade represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, the chief accounting officer owned 335,463 shares of the company’s stock, valued at $4,615,970.88. The trade was a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 81,749 shares of company stock worth $1,221,950. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of large investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Lyft in the fourth quarter valued at about $26,000. Plato Investment Management Ltd bought a new position in shares of Lyft in the second quarter valued at $27,000. Boreal Capital Management LLC bought a new stake in shares of Lyft during the first quarter worth about $31,000. Bessemer Group Inc. increased its position in shares of Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Lyft in the 4th quarter worth about $40,000. Institutional investors own 83.07% of the company’s stock.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Revenue and bookings exceeded expectations. Lyft reported second-quarter revenue of $1.84 billion, ahead of the $1.81 billion consensus estimate, while gross bookings reached a record $5.5 billion. Revenue grew 16.1% year over year. Reuters: Lyft signals steady demand as second-quarter revenue tops estimates
• Positive Sentiment: User engagement remained strong. Active riders surpassed 30 million and rides also reached a record, supported by demand for higher-value services, international expansion and partnerships. Lyft reports Q2 results ahead of expectations as active riders surpass 30M
• Positive Sentiment: Management issued a constructive outlook. Lyft’s current-quarter gross-bookings forecast was slightly above Wall Street expectations, reinforcing the view that demand remains steady. CEO David Risher attributed profitable growth to customer-focused execution. Lyft sets records on rides and bookings, sets upbeat outlook for Q3
• Positive Sentiment: JPMorgan raised its price target. The firm increased its target from $18 to $19 while maintaining a Neutral rating, indicating modest potential appreciation from recent levels. Benzinga analyst price-target update
• Neutral Sentiment: Analyst sentiment remains cautious. Cantor Fitzgerald lifted its target from $14 to $17 and Evercore ISI reiterated a Hold rating, reflecting confidence in demand but less conviction about rapid margin improvement. Evercore ISI maintains Hold rating
• Negative Sentiment: Profitability fell short. Quarterly EPS was reported at $0.13, narrowly below the $0.14 consensus, with higher promotions weighing on results. Lyft also expects bookings growth to moderate to 15%–19% in the current quarter. Lyft’s bookings climb, but expects growth to moderate

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.