Lyft (NASDAQ:LYFT) Stock Rating Lowered by Fox Advisors

Lyft (NASDAQ:LYFT) was downgraded by investment analysts at Fox Advisors from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, Briefing.com reports.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Lyft in a report on Tuesday, August 18th. Zacks Research upgraded Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Rosenblatt Securities cut their price objective on Lyft from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Friday. Evercore set a $23.00 price objective on Lyft in a research report on Friday. Finally, Canaccord Genuity Group increased their target price on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Lyft presently has an average rating of “Hold” and a consensus price target of $19.00.

Lyft Price Performance

LYFT opened at $17.09 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $16.20 and a 200-day moving average price of $15.13. Lyft has a twelve month low of $12.46 and a twelve month high of $25.54. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 2.54, a PEG ratio of 1.06 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Thursday, November 5th. The ride-sharing company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.23). Lyft had a net margin of 40.67% and a return on equity of 1.25%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts forecast that Lyft will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Lawee sold 4,613 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.33, for a total value of $79,943.29. Following the completion of the sale, the director directly owned 119,124 shares in the company, valued at $2,064,418.92. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Llewellyn sold 13,204 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $16.64, for a total value of $219,714.56. Following the completion of the sale, the insider owned 781,152 shares of the company’s stock, valued at $12,998,369.28. This trade represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 61,586 shares of company stock valued at $1,024,326. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently bought and sold shares of LYFT. Russell Investments Group Ltd. raised its position in shares of Lyft by 17.5% during the third quarter. Russell Investments Group Ltd. now owns 104,121 shares of the ride-sharing company’s stock valued at $1,563,000 after buying an additional 15,527 shares during the last quarter. Ariadne Wealth Management LP lifted its holdings in shares of Lyft by 34.4% in the third quarter. Ariadne Wealth Management LP now owns 14,320 shares of the ride-sharing company’s stock worth $215,000 after buying an additional 3,668 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Lyft by 38.0% during the third quarter. Maryland State Retirement & Pension System now owns 104,725 shares of the ride-sharing company’s stock worth $1,572,000 after acquiring an additional 28,847 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Lyft by 5.4% during the third quarter. Illinois Municipal Retirement Fund now owns 704,564 shares of the ride-sharing company’s stock worth $10,576,000 after acquiring an additional 35,793 shares during the last quarter. Finally, Fulcrum Asset Management LLP boosted its position in shares of Lyft by 546.2% during the third quarter. Fulcrum Asset Management LLP now owns 118,384 shares of the ride-sharing company’s stock worth $1,784,000 after acquiring an additional 100,063 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

About Lyft

Lyft operates a mobile platform that connects people seeking transportation with drivers who provide rides. Through its app, customers can request on-demand trips, schedule rides in advance, and access other ride options where available. The company also offers Lyft Pink, a membership program with benefits for eligible rides and services.

Lyft provides transportation programs for businesses and organizations through Lyft Business, including tools for arranging and managing rides. The company’s platform primarily serves markets in the United States and Canada.

Lyft was founded in 2012 by Logan Green and John Zimmer.