Lyft, Inc. (NASDAQ:LYFT) Given Average Rating of “Hold” by Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given an average rating of “Hold” by the thirty-eight research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twenty-seven have given a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $16.60.

LYFT has been the topic of several recent research reports. Truist Financial lowered their price objective on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Monday, March 24th. Royal Bank of Canada restated an “outperform” rating and set a $21.00 target price on shares of Lyft in a research report on Monday, March 17th. DA Davidson dropped their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Barclays reduced their price target on Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th.

Lyft Price Performance

Shares of LYFT opened at $10.88 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $12.29 and its 200 day simple moving average is $13.71. Lyft has a 1-year low of $8.93 and a 1-year high of $19.34. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 181.33, a PEG ratio of 1.90 and a beta of 2.13.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, research analysts forecast that Lyft will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now directly owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Lyft by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock worth $1,054,000 after purchasing an additional 1,315 shares in the last quarter. Captrust Financial Advisors acquired a new position in Lyft during the 3rd quarter worth approximately $138,000. XTX Topco Ltd boosted its holdings in Lyft by 2.5% in the third quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock worth $538,000 after acquiring an additional 1,043 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Lyft in the third quarter valued at approximately $1,838,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Lyft by 87.0% during the third quarter. Public Employees Retirement System of Ohio now owns 260,374 shares of the ride-sharing company’s stock valued at $3,320,000 after acquiring an additional 121,142 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Company Profile

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.