Lyft (NASDAQ:LYFT) Upgraded to “Hold” at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Lyft (NASDAQ:LYFT) to a hold rating in a research report sent to investors on Monday,Zacks reports.

LYFT has been the subject of a number of other reports. Citigroup started coverage on Lyft in a report on Wednesday, June 17th. They set a “buy” rating for the company. Royal Bank Of Canada restated an “outperform” rating and set a $20.00 price target on shares of Lyft in a report on Tuesday, August 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $21.00 target price (up from $20.00) on shares of Lyft in a report on Friday, August 7th. Wells Fargo & Company lifted their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a report on Monday, August 3rd. Thirteen investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Lyft currently has an average rating of “Hold” and an average price target of $19.77.

Lyft Trading Down 0.8%

Shares of LYFT stock opened at $16.77 on Monday. Lyft has a 12-month low of $12.46 and a 12-month high of $25.54. The company has a market capitalization of $6.35 billion, a PE ratio of 2.44, a price-to-earnings-growth ratio of 1.04 and a beta of 1.80. The firm has a 50 day moving average price of $16.05 and a two-hundred day moving average price of $14.55. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $0.10 EPS. Lyft’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that Lyft will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $17.63, for a total transaction of $264,450.00. Following the transaction, the chief financial officer owned 852,303 shares in the company, valued at $15,026,101.89. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,982 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.34, for a total value of $103,727.88. Following the completion of the transaction, the chief accounting officer directly owned 299,974 shares in the company, valued at $5,201,549.16. This trade represents a 1.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,816 shares of company stock valued at $1,615,095 over the last three months. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Lyft

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LP boosted its position in Lyft by 45.3% in the 2nd quarter. Corient Private Wealth LP now owns 189,497 shares of the ride-sharing company’s stock valued at $2,769,000 after buying an additional 59,041 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Lyft during the 2nd quarter worth $2,643,000. California State Teachers Retirement System increased its position in shares of Lyft by 1,333.6% in the 2nd quarter. California State Teachers Retirement System now owns 6,441,315 shares of the ride-sharing company’s stock valued at $94,108,000 after acquiring an additional 5,992,016 shares during the period. Wedmont Private Capital raised its position in Lyft by 8.2% during the 2nd quarter. Wedmont Private Capital now owns 12,875 shares of the ride-sharing company’s stock worth $201,000 after buying an additional 977 shares during the last quarter. Finally, Nykredit A S purchased a new position in Lyft during the second quarter valued at approximately $195,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: New advertising partnership: Lyft Ads and United Airlines are creating a dynamic advertising partnership, potentially expanding Lyft’s higher-margin advertising revenue and strengthening its position with travel-oriented consumers. Lyft Ads and United Airlines partnership
• Positive Sentiment: New analyst coverage: Rosenblatt Securities initiated coverage with a “neutral” rating and a $19 price target, which is above the stock’s recent trading level. While not a bullish endorsement, the target suggests potential upside and adds another Wall Street view to the stock’s coverage.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.