Lyft (NASDAQ:LYFT) Research Coverage Started at Melius Research

Melius Research began coverage on shares of Lyft (NASDAQ:LYFT) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm issued a hold rating and a $15.00 price objective on the ride-sharing company’s stock.

A number of other analysts have also weighed in on LYFT. BMO Capital Markets increased their target price on Lyft from $18.00 to $19.00 and gave the stock a market perform rating in a research note on Friday, June 7th. Barclays increased their price target on Lyft from $17.00 to $20.00 and gave the stock an equal weight rating in a research report on Wednesday, May 8th. Sanford C. Bernstein increased their price target on Lyft from $15.00 to $19.00 and gave the stock a market perform rating in a research report on Wednesday, May 8th. Wolfe Research assumed coverage on Lyft in a research report on Tuesday, July 16th. They set a peer perform rating on the stock. Finally, Needham & Company LLC reissued a hold rating on shares of Lyft in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $17.79.

Lyft Stock Performance

LYFT stock opened at $12.38 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The business’s fifty day simple moving average is $14.31 and its two-hundred day simple moving average is $15.53. Lyft has a twelve month low of $8.85 and a twelve month high of $20.82. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -26.34 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.17 billion. Analysts predict that Lyft will post -0.19 earnings per share for the current year.

Insider Transactions at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the transaction, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the completion of the transaction, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 7,923 shares of Lyft stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the transaction, the director now owns 924,621 shares of the company’s stock, valued at $15,293,231.34. The disclosure for this sale can be found here. Insiders sold a total of 43,333 shares of company stock worth $680,974 over the last three months. 3.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LYFT. Norges Bank purchased a new position in Lyft during the fourth quarter valued at approximately $94,687,000. Kodai Capital Management LP acquired a new stake in Lyft in the fourth quarter valued at approximately $26,069,000. Bank of Nova Scotia acquired a new stake in Lyft in the fourth quarter valued at approximately $21,433,000. Price T Rowe Associates Inc. MD grew its holdings in Lyft by 592.3% in the first 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 during the period. Finally, Vanguard Group Inc. grew its holdings in Lyft by 3.7% in the third quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after purchasing an additional 1,135,036 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.