Brokerages Set Lyft, Inc. (NASDAQ:LYFT) Price Target at $17.77

Lyft, Inc. (NASDAQ:LYFT) has been assigned a consensus rating of “Hold” from the thirty-eight analysts that are currently covering the firm, Marketbeat.com reports. Twenty-eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $17.77.

A number of analysts recently issued reports on LYFT shares. Jefferies Financial Group lifted their price objective on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their price target on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Benchmark restated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Barclays lifted their target price on shares of Lyft from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, Raymond James assumed coverage on shares of Lyft in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction 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 sale, the director now directly owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,909 shares of company stock worth $505,686. 3.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Several large investors have recently made changes to their positions in the company. True Wealth Design LLC bought a new position in Lyft during the 3rd quarter valued at about $27,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft during the second quarter worth approximately $35,000. International Assets Investment Management LLC bought a new position in shares of Lyft in the second quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lyft in the 3rd quarter worth approximately $38,000. Finally, Quarry LP grew its position in Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 3,468 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

Shares of LYFT opened at $15.94 on Friday. The business’s 50-day moving average is $15.04 and its 200-day moving average is $13.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of -99.63, a P/E/G ratio of 5.00 and a beta of 2.09. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS. Equities research analysts expect that Lyft will post 0.08 EPS for the current fiscal year.

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.