Lyft, Inc. (NASDAQ:LYFT) Receives Consensus Rating of “Hold” from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given an average recommendation of “Hold” by the thirty-eight brokerages that are covering the stock, MarketBeat Ratings reports. Twenty-six equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $17.22.

Several brokerages recently issued reports on LYFT. TD Cowen raised their price objective on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their price target on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price objective (down previously from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, January 6th. Finally, Roth Capital restated a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th.

Institutional Inflows and Outflows

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

Lyft Stock Performance

Shares of Lyft stock opened at $12.74 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft has a 1 year low of $8.93 and a 1 year high of $20.82. The firm’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $13.69. The firm has a market cap of $5.32 billion, a PE ratio of 212.30, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (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%. Equities analysts forecast that Lyft will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its board has authorized a stock repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is 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.