Lyft, Inc. (NASDAQ:LYFT) Stock Has Consensus Target Price of $19.14

Lyft, Inc. (NASDAQ:LYFT) has been given an average recommendation of “Hold” by the thirty-eight brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, twenty-six have issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.89.

LYFT has been the subject of several analyst reports. Guggenheim lowered Lyft from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $16.00 in a research report on Thursday, September 17th. BMO Capital Markets reissued a “market perform” rating on shares of Lyft in a research report on Friday, November 6th. Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a research report on Friday, August 7th. Rosenblatt Securities dropped their target price on Lyft from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, November 6th. Finally, Truist Financial boosted their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, November 6th.

Lyft Stock Performance

NASDAQ LYFT opened at $16.61 on Friday. Lyft has a fifty-two week low of $12.46 and a fifty-two week high of $24.59. The firm’s fifty day moving average price is $16.18 and its two-hundred day moving average price is $15.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.59 and a current ratio of 0.60. The stock has a market cap of $6.29 billion, a PE ratio of 123.50, a PEG ratio of 1.07 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Thursday, November 5th. The ride-sharing company reported ($0.03) EPS 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 firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts expect that Lyft will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $14.64, for a total value of $219,600.00. Following the sale, the chief financial officer owned 837,303 shares of the company’s stock, valued at approximately $12,258,115.92. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $17.33, for a total transaction of $79,943.29. Following the sale, the director owned 119,124 shares of the company’s stock, valued at approximately $2,064,418.92. The trade was a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,586 shares of company stock valued at $1,024,326 in the last three months. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings 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 buying an additional 3,033,333 shares during the period. Altshuler Shaham Ltd grew its position in shares of Lyft by 51.6% in the first quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock valued at $101,905,000 after purchasing an additional 2,607,417 shares in the last quarter. Junto Capital Management LP bought a new stake in shares of Lyft during the 2nd quarter valued at $36,926,000. Dimensional Fund Advisors LP increased its position in shares of Lyft by 58.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after buying an additional 2,467,010 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in Lyft by 150.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,268,619 shares of the ride-sharing company’s stock worth $53,867,000 after purchasing an additional 1,964,216 shares in the last quarter. 83.07% of the stock is currently owned by 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.