Lyft (NASDAQ:LYFT) Raised to Hold at Mizuho

Mizuho upgraded shares of Lyft (NASDAQ:LYFT) to a hold rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. UBS Group raised their price objective on Lyft from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Jefferies Financial Group increased their target price on Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, September 18th. Wells Fargo & Company raised their price target on Lyft from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, September 5th. Sanford C. Bernstein boosted their price target on Lyft from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Finally, Roth Capital raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lyft currently has an average rating of “Hold” and an average target price of $19.02.

Lyft Price Performance

Shares of Lyft stock opened at $22.01 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 91.71, a price-to-earnings-growth ratio of 3.59 and a beta of 2.33. Lyft has a twelve month low of $9.66 and a twelve month high of $23.50. The company has a 50-day simple moving average of $17.14 and a two-hundred day simple moving average of $15.05.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts forecast that Lyft will post 0.22 EPS for the current year.

Insider Activity at Lyft

In other Lyft news, CEO John David Risher bought 5,926 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the transaction, the chief executive officer directly owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total value of $258,600.00. Following the transaction, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at approximately $9,064,085.16. The trade was a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,427 shares of company stock valued at $1,252,686 over the last ninety days. 3.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYFT. MassMutual Private Wealth & Trust FSB grew its stake in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Lyft during the 2nd quarter valued at $32,000. GAMMA Investing LLC grew its position in Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after acquiring an additional 1,237 shares during the last quarter. Bogart Wealth LLC increased its holdings in Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 2,000 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Lyft in the first quarter valued at about $35,000. Institutional investors own 83.07% of the company’s stock.

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.