Lyft (NASDAQ:LYFT) Receives Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Lyft (NASDAQ:LYFT) in a report released on Friday,Benzinga reports. The brokerage currently has a $21.00 price target on the ride-sharing company’s stock, up from their previous price target of $20.00.

LYFT has been the topic of several other reports. Sanford C. Bernstein assumed coverage on shares of Lyft in a research note on Wednesday, June 17th. They set an “underperform” rating on the stock. Guggenheim reiterated a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lyft in a report on Monday. Truist Financial boosted their price target on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Finally, Canaccord Genuity Group dropped their price objective on Lyft from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.57.

Lyft Price Performance

NASDAQ:LYFT opened at $17.46 on Friday. Lyft has a 1-year low of $12.46 and a 1-year high of $25.54. 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 fifty day simple moving average of $14.95 and a 200 day simple moving average of $14.55. The stock has a market capitalization of $6.63 billion, a PE ratio of 2.54, a P/E/G ratio of 0.97 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last issued its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lyft had a negative return on equity of 1.30% and a net margin of 42.32%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Lyft’s quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts expect that Lyft will post 0.69 EPS for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at $414,065.92. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.59, for a total transaction of $203,850.00. Following the sale, the chief financial officer owned 705,979 shares of the company’s stock, valued at $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 81,749 shares of company stock valued at $1,221,950 in the last 90 days. Insiders own 0.92% of the company’s stock.

Institutional Trading of Lyft

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Lyft in the fourth quarter valued at about $109,987,000. Swedbank AB bought a new position in Lyft during the fourth quarter worth about $108,472,000. Contour Asset Management LLC bought a new position in Lyft during the fourth quarter worth about $75,870,000. Principal Financial Group Inc. raised its stake in Lyft by 250.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company’s stock worth $56,479,000 after purchasing an additional 3,033,333 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its stake in Lyft by 51.6% in the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after purchasing an additional 2,607,417 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft News Roundup

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Record demand and bookings: Second-quarter gross bookings rose 23% year over year to $5.5 billion, revenue increased 16% to $1.84 billion, and active riders and rides reached records of 30.5 million and 262 million, respectively. Growth was supported by higher-value rides, international expansion and partnerships. Reuters article
• Positive Sentiment: Improving profitability: Adjusted EBITDA climbed 37% to $177.2 million, while the adjusted EBITDA margin improved to 3.2% of bookings from 2.9% a year earlier. Lyft also had $850 million remaining under its 2026 share-repurchase authorization as of June 30, potentially supporting per-share value. Seeking Alpha article
• Positive Sentiment: Constructive near-term outlook: Lyft forecast third-quarter gross bookings of approximately $5.50 billion to $5.67 billion, slightly above expectations, suggesting demand remains resilient even as growth moderates. Several analysts raised targets, including RBC to $20, Piper Sandler to $21 and JPMorgan to $19. RBC price-target article

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.