Lyft (NASDAQ:LYFT) Issues Earnings Results

Lyft (NASDAQ:LYFT) posted its earnings results on Tuesday. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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

NASDAQ LYFT traded down $0.73 on Tuesday, hitting $14.39. 49,365,658 shares of the company were exchanged, compared to its average volume of 16,607,211. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82. The company has a market cap of $5.97 billion, a P/E ratio of -89.94, a P/E/G ratio of 1.94 and a beta of 2.16. The firm has a 50 day moving average of $14.05 and a two-hundred day moving average of $13.51.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LYFT. Evercore ISI lifted their target price on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Bank of America boosted their price objective on shares of Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group reduced their price objective on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets boosted their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, January 6th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lyft presently has a consensus rating of “Hold” and an average target price 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.