Lyft (NASDAQ:LYFT) Releases Earnings Results, Misses Expectations By $0.10 EPS

Lyft (NASDAQ:LYFT) announced its quarterly earnings results on Tuesday. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10), Zacks reports. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%.

Lyft Trading Down 4.8 %

Lyft stock traded down $0.73 during trading hours on Tuesday, hitting $14.39. The stock had a trading volume of 49,365,658 shares, compared to its average volume of 16,607,211. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of -89.94, a P/E/G ratio of 1.94 and a beta of 2.16. Lyft has a one year low of $8.93 and a one year high of $20.82. The business’s 50 day simple moving average is $14.05 and its 200-day simple moving average is $13.51.

Analysts Set New Price Targets

A number of analysts recently issued reports on LYFT shares. Cantor Fitzgerald increased their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Bank of America raised their price target on shares of Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays raised their price target on shares of Lyft from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. UBS Group decreased their price target on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Wedbush decreased their price target on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lyft has an average rating of “Hold” and a consensus target price of $17.84.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.07% 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.