Lyft (NASDAQ:LYFT) Issues Quarterly 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 Trading Down 4.8 %

NASDAQ:LYFT opened at $14.39 on Wednesday. The business’s 50-day simple moving average is $14.05 and its 200-day simple moving average is $13.51. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. 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 stock has a market capitalization of $5.97 billion, a PE ratio of -89.94, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16.

Insiders Place Their Bets

In related news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 3.07% of the company’s stock.

Lyft declared that its board has authorized a stock buyback plan on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LYFT shares. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research note on Wednesday. DA Davidson upped their price target on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital raised their price objective on shares of Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Roth Mkm upped their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald raised their price target on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.81.

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.