Lyft, Inc. (NASDAQ:LYFT) Given Consensus Recommendation of “Hold” by Brokerages

Lyft, Inc. (NASDAQ:LYFT) has earned a consensus rating of “Hold” from the thirty-seven research firms that are presently covering the stock, Marketbeat.com reports. Twenty-six analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $17.03.

A number of equities research analysts have issued reports on LYFT shares. Loop Capital reduced their target price on shares of Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Wednesday, February 12th. Bank of America upped their price target on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. UBS Group decreased their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, Susquehanna cut their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 11,411 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock valued at $203,778 in the last ninety days. Insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently added to or reduced their stakes in LYFT. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft in the 4th quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in Lyft in the third quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lyft during the 4th quarter worth $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Lyft during the 4th quarter worth $31,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Lyft in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Trading Up 2.0 %

Shares of NASDAQ LYFT opened at $11.98 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $5.01 billion, a PE ratio of 199.67, a PEG ratio of 1.90 and a beta of 2.15. Lyft has a twelve month low of $8.93 and a twelve month high of $20.40. The stock has a fifty day simple moving average of $13.05 and a 200-day simple moving average of $13.79.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, equities analysts forecast that Lyft will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.