Shares of Lyft, Inc. (NASDAQ:LYFT) have been assigned a consensus recommendation of “Buy” from the thirty-five ratings firms that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $69.68.
LYFT has been the topic of several analyst reports. Needham & Company LLC initiated coverage on Lyft in a research report on Monday, May 3rd. They set a “hold” rating on the stock. BTIG Research boosted their target price on Lyft from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, April 27th. Morgan Stanley upped their price objective on Lyft from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 5th. Barclays upped their price objective on Lyft from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 5th. Finally, Cowen upped their price objective on Lyft from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday. They noted that the move was a valuation call.
NASDAQ LYFT opened at $62.79 on Monday. The company has a market cap of $20.68 billion, a P/E ratio of -11.19 and a beta of 2.31. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $56.14. Lyft has a fifty-two week low of $21.34 and a fifty-two week high of $68.28.
Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, May 4th. The ride-sharing company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.98) by $0.63. The firm had revenue of $609.00 million for the quarter, compared to the consensus estimate of $554.70 million. Lyft had a negative return on equity of 80.71% and a negative net margin of 88.32%. The company’s revenue for the quarter was down 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.31) EPS. On average, research analysts expect that Lyft will post -2.51 EPS for the current fiscal year.
In other news, CFO Brian Keith Roberts sold 15,000 shares of the stock in a transaction dated Thursday, April 8th. The stock was sold at an average price of $61.33, for a total value of $919,950.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 4,514 shares of the stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $53.77, for a total value of $242,717.78. The disclosure for this sale can be found here. Insiders have sold a total of 194,270 shares of company stock worth $12,265,155 over the last ninety days. 22.86% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in LYFT. Childress Capital Advisors LLC acquired a new position in shares of Lyft in the fourth quarter valued at about $26,000. Berman Capital Advisors LLC increased its holdings in shares of Lyft by 75.7% in the first quarter. Berman Capital Advisors LLC now owns 543 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 234 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Lyft in the fourth quarter valued at about $37,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Lyft in the first quarter valued at about $39,000. Finally, CWM LLC increased its holdings in shares of Lyft by 307.3% in the first quarter. CWM LLC now owns 1,173 shares of the ride-sharing company’s stock valued at $74,000 after purchasing an additional 885 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.
Lyft Company Profile
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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