Brokerages Set Lyft, Inc. (NASDAQ:LYFT) Price Target at $14.60

Lyft, Inc. (NASDAQ:LYFT) has been given a consensus rating of “Hold” by the twenty-three ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $14.60.

A number of analysts have issued reports on LYFT shares. Argus raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, March 5th. TD Cowen raised their price target on Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. raised their price target on Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Citigroup raised their price target on Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Truist Financial raised their price target on Lyft from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th.

Lyft Trading Up 1.9 %

Shares of LYFT stock opened at $16.37 on Thursday. Lyft has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The stock has a market cap of $6.54 billion, a P/E ratio of -18.39 and a beta of 1.98. The business has a fifty day simple moving average of $17.74 and a 200-day simple moving average of $14.26. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. On average, analysts forecast that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Patrick Zimmer sold 15,724 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the sale, the director now directly owns 1,204,071 shares in the company, valued at approximately $21,083,283.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the transaction, the chief accounting officer now owns 255,817 shares in the company, valued at approximately $4,108,421.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 15,724 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total value of $275,327.24. Following the transaction, the director now owns 1,204,071 shares of the company’s stock, valued at approximately $21,083,283.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,526 shares of company stock worth $5,195,771. 3.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 1,672 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft in the first quarter valued at $41,000. GAMMA Investing LLC lifted its holdings 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 buying an additional 664 shares during the period. a16z Perennial Management L.P. acquired a new stake in shares of Lyft in the fourth quarter valued at $34,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Lyft in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.