Lyft’s (LYFT) “Sector Weight” Rating Reiterated at KeyCorp

KeyCorp restated their sector weight rating on shares of Lyft (NASDAQ:LYFT) in a research report sent to investors on Wednesday morning,Benzinga reports.

LYFT has been the topic of a number of other research reports. Susquehanna reduced their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Citigroup reissued an “overweight” rating on shares of Lyft in a research report on Wednesday, February 12th. Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, January 6th. Finally, Cantor Fitzgerald lowered their target price on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average target price of $17.03.

Lyft Price Performance

Shares of LYFT opened at $12.27 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a market cap of $5.13 billion, a PE ratio of 204.50, a PEG ratio of 1.90 and a beta of 2.15. Lyft has a 12-month low of $8.93 and a 12-month high of $19.96. The business has a 50-day simple moving average of $13.00 and a two-hundred day simple moving average of $13.81.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Analysts anticipate 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 buyback program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now directly owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Lyft by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock valued at $464,434,000 after purchasing an additional 984,907 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Lyft by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock valued at $230,174,000 after purchasing an additional 80,675 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Lyft by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after buying an additional 2,302,248 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Lyft by 15.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 9,338,222 shares of the ride-sharing company’s stock worth $120,463,000 after buying an additional 1,224,056 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Lyft by 282.0% in the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after buying an additional 6,365,727 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

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.