Lyft (NASDAQ:LYFT) Announces Earnings Results

Lyft (NASDAQ:LYFT) posted its quarterly earnings results on Tuesday. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10), Zacks reports. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $13.25 on Thursday. Lyft has a one year low of $8.93 and a one year high of $20.82. The firm has a fifty day moving average price of $14.00 and a two-hundred day moving average price of $13.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

Lyft announced that its board has initiated a stock buyback program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

LYFT has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Tigress Financial lifted their price objective on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Bank of America boosted their target price on shares of Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company dropped their price target on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Wedbush decreased their price objective on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday. Twenty-seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.31.

Insider Transactions at Lyft

In related news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.07% of the company’s stock.

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.