Lyft (NASDAQ:LYFT) Issues Earnings Results

Lyft (NASDAQ:LYFT) posted its quarterly earnings data on Tuesday. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate 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 Price Performance

Lyft stock traded down $0.73 during midday trading on Tuesday, reaching $14.39. 51,882,558 shares of the stock traded hands, compared to its average volume of 16,912,088. 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 P/E ratio of -89.94, a PEG ratio of 1.94 and a beta of 2.16. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The stock’s fifty day moving average is $14.05 and its 200-day moving average is $13.51.

Insider Activity at Lyft

In other news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LYFT has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price target on shares of Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Truist Financial increased their target price on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, Tigress Financial upped their price objective on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lyft has a consensus rating of “Hold” and a consensus price target of $17.84.

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.