Lyft, Inc. (NASDAQ:LYFT) Given Consensus Recommendation of “Hold” by Brokerages

Lyft, Inc. (NASDAQ:LYFT) has received a consensus recommendation of “Hold” from the twenty-five ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.70.

A number of research firms have issued reports on LYFT. Citigroup increased their price target on Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised their target price on shares of Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, April 8th. Wedbush increased their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Argus upgraded 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. Finally, Tigress Financial upped their price objective on Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th.

Insider Buying and Selling at Lyft

In other news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00. Following the completion of the sale, the president now owns 64,278 shares in the company, valued at $998,880.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lyft news, Director John Patrick Zimmer sold 7,923 shares of Lyft stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $16.54, for a total value of $131,046.42. Following the sale, the director now owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Kristin Sverchek sold 6,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total value of $101,010.00. Following the transaction, the president now directly owns 64,278 shares of the company’s stock, valued at $998,880.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 248,990 shares of company stock worth $4,838,463. 3.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC boosted its position in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Lyft during the first quarter worth about $41,000. GAMMA Investing LLC grew its position in Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after buying an additional 664 shares during the period. Finally, a16z Perennial Management L.P. acquired a new stake in shares of Lyft during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

LYFT opened at $15.64 on Monday. The stock’s 50-day moving average price is $17.57 and its 200 day moving average price is $15.20. Lyft has a 12-month low of $7.91 and a 12-month high of $20.82. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of -33.28 and a beta of 2.05. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.09. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. As a group, sell-side analysts expect that Lyft will post -0.22 earnings per share for the current 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.