Lyft, Inc. (NASDAQ:LYFT – Get Rating) has been awarded a consensus “Buy” recommendation by the twenty-nine brokerages that currently cover the company, Marketbeat reports. Ten equity research analysts rated the stock with a hold recommendation and sixteen gave the company a buy recommendation. The average 1-year price target among brokerages that updated their coverage on the stock in the last year is $60.14.
Several stock analysts have recently commented on LYFT shares. Royal Bank of Canada lowered its price target on Lyft shares from $53.00 to $50.00 and set an “outperform” rating for the company in a Monday, March 21 research note. Deutsche Bank Aktiengesellschaft began covering Lyft shares in a research note on Friday, March 11. They set a “hold” rating and a price target of $43.00 for the company. Susquehanna lowered its price target on Lyft stock from $80.00 to $54.00 and set a “positive” rating for the company in a Wednesday, Feb. 9 research note. Credit Suisse Group raised its price target on Lyft shares from $70.00 to $71.00 and gave the company an “outperform” rating in a Monday, Feb. 7 research note. Finally, Wedbush cut its price target on Lyft stock from $77.00 to $50.00 and set an “outperform” rating on the stock in a Wednesday, Feb. 9 research report.
In other news, insider Kristin Sverchek sold 10,999 shares of the company in a trade that took place on Tuesday, February 1. The shares were sold at an average price of $39.05, for a total value of $429,510.95. The sale was disclosed in a filing with the SEC, accessible via this link. During the last quarter, insiders sold 15,491 shares of the company worth $608,471. Insiders hold 5.77% of the shares of the company.
A number of institutional investors have recently changed their stock portfolios. Bank of New York Mellon Corp raised its position in Lyft by 7.9% during the third quarter. Bank of New York Mellon Corp now owns 6,588,945 shares of the rideshare company valued at $353,102,000 after purchasing an additional 484,642 shares during the period. Primecap Management Co. CA increased its position in Lyft by 15.2% in the third quarter. Primecap Management Co. CA now owns 4,842,341 shares of the rideshare company worth $259,501,000 after acquiring an additional 640,410 shares during the period. American Century Companies Inc. increased its position in Lyft by 23.8% in the fourth quarter. American Century Companies Inc. now owns 4,818,637 shares of the rideshare company worth $205,900,000 after acquiring an additional 925,638 shares during the period. Artisan Partners Limited Partnership raised its position in Lyft by 2.8% in the third quarter. Artisan Partners Limited Partnership now owns 4,200,749 shares of the rideshare company worth $225,118,000 after acquiring an additional 115,438 shares during the period. Finally, Geode Capital Management LLC increased its position in Lyft by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 3,820,320 shares of the rideshare company worth $163,038,000 after acquiring an additional 210,699 shares during the period. Institutional investors hold 80.44% of the company’s shares.
LYFT stock opened at $32.60 on Friday. Lyft has a fifty-two-week low of $31.52 and a fifty-two-week high of $63.07. The company has a debt ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $11.36 billion, a price-earnings ratio of -10.76 and a beta of 1.83. The company has a fifty-day moving average price of $36.46 and a 200-day moving average price of $41.10.
Lyft (NASDAQ:LYFT – Get Rating) last released its quarterly earnings data on Tuesday, February 8. The rideshare company reported ($0.38) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.48) by $0.10. The company posted revenue of $969.90 million in the quarter, versus a consensus estimate of $940.85 million. Lyft had a negative net margin of 31.46% and a negative return on equity of 57.94%. The company’s revenue increased by 70.2% compared to the same quarter last year. During the same period of the previous year, the company posted ($1.01) EPS. On average, stock analysts expect Lyft to post -1.58 earnings per share for the current fiscal year.
Lyft Company Profile (Get an assessment)
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that provide riders with personalized, on-demand access to a variety of mobility options. It supplies the carpooling market, which connects drivers with passengers; Express Drive, a flexible car rental program for drivers; Lyft Rentals, which provides vehicles for long-distance trips; and a network of shared bicycles and scooters in different cities to meet the needs of cyclists for short trips.
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