Brokerages Set Lyft, Inc. (NASDAQ:LYFT) PT at $22.92

Shares of Lyft, Inc. (NASDAQ:LYFT) have earned a consensus rating of “Hold” from the thirty-six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.9219.

A number of research analysts have commented on LYFT shares. Deutsche Bank Aktiengesellschaft lifted their target price on Lyft from $21.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Barclays raised their price objective on Lyft from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Morgan Stanley lifted their price objective on shares of Lyft from $20.50 to $22.50 and gave the stock an “equal weight” rating in a report on Monday, December 8th. DA Davidson set a $22.00 target price on shares of Lyft in a report on Thursday, November 6th. Finally, Cowen restated a “buy” rating on shares of Lyft in a research report on Thursday, November 6th.

Insider Buying and Selling

In other Lyft news, Director David Lawee sold 6,578 shares of Lyft stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.55, for a total value of $148,333.90. Following the completion of the transaction, the director directly owned 104,460 shares in the company, valued at $2,355,573. The trade was a 5.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John David Risher purchased 5,030 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were bought at an average price of $19.80 per share, for a total transaction of $99,594.00. Following the completion of the transaction, the chief executive officer directly owned 11,802,296 shares in the company, valued at approximately $233,685,460.80. This trade represents a 0.04% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 187,443 shares of company stock valued at $4,178,618 over the last 90 days. 3.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its position in shares of Lyft by 2.5% during the third quarter. Amalgamated Bank now owns 21,652 shares of the ride-sharing company’s stock worth $477,000 after acquiring an additional 534 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock valued at $75,000 after purchasing an additional 639 shares during the last quarter. CI Investments Inc. lifted its position in Lyft by 39.1% in the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 653 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Lyft by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock valued at $3,684,000 after purchasing an additional 771 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Lyft by 2.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 35,372 shares of the ride-sharing company’s stock worth $779,000 after purchasing an additional 836 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $19.86 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft has a fifty-two week low of $9.66 and a fifty-two week high of $25.54. The business has a 50 day moving average price of $20.88 and a two-hundred day moving average price of $18.19. The firm has a market cap of $7.93 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 1.91 and a beta of 1.99.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $0.29 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts expect that Lyft will post 0.22 earnings per share for the current fiscal year.

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.