Lyft, Inc. (NASDAQ:LYFT) Given Consensus Recommendation of “Hold” by Analysts

Lyft, Inc. (NASDAQ:LYFT) has received an average rating of “Hold” from the thirty-eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $17.22.

Several equities research analysts have weighed in on the company. Canaccord Genuity Group increased their price objective on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. Barclays cut their price target on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th.

Institutional Trading of Lyft

Several institutional investors and hedge funds have recently bought and sold shares of the business. Spurstone Advisory Services LLC purchased a new position in Lyft during the 4th quarter worth $25,000. True Wealth Design LLC acquired a new position in shares of Lyft during the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft during the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new stake in Lyft in the 4th quarter valued at approximately $31,000. Finally, Byrne Asset Management LLC purchased a new stake in shares of Lyft in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 0.1 %

NASDAQ:LYFT opened at $12.74 on Wednesday. The firm has a market capitalization of $5.32 billion, a P/E ratio of 212.30, a P/E/G ratio of 1.90 and a beta of 2.16. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average of $13.58 and a 200 day moving average of $13.69. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, research analysts predict that Lyft will post 0.22 earnings per share for the current year.

Lyft announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.