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

Lyft, Inc. (NASDAQ:LYFT) has earned an average recommendation of “Hold” from the thirty-eight ratings firms that are covering the company, MarketBeat reports. Twenty-six equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.22.

Several research analysts have recently issued reports on LYFT shares. Roth Mkm increased their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. UBS Group reduced their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler reissued an “overweight” rating and set a $18.00 price target (down from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald cut their price objective on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th.

Lyft Stock Performance

NASDAQ:LYFT opened at $13.05 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 firm’s fifty day simple moving average is $13.64 and its 200 day simple moving average is $13.65. The stock has a market cap of $5.45 billion, a P/E ratio of 217.42, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16. Lyft has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last announced 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 net margin of 0.39% and a return on equity of 8.03%. As a group, research analysts predict that Lyft will post 0.22 EPS for the current year.

Lyft declared that its board has authorized a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Logan Green sold 10,919 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Large investors have recently added to or reduced their stakes in the business. Spurstone Advisory Services LLC purchased a new position in shares of Lyft during the 4th quarter worth $25,000. True Wealth Design LLC bought a new position in Lyft in the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft during the fourth quarter valued at $29,000. ORG Wealth Partners LLC bought a new stake in Lyft during the fourth quarter valued at about $31,000. Finally, Byrne Asset Management LLC bought a new stake in Lyft during the fourth quarter valued at about $35,000. 83.07% of the stock is currently owned by institutional investors.

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.