Lyft’s (LYFT) Sector Weight Rating Reiterated at KeyCorp

Lyft (NASDAQ:LYFT)‘s stock had its “sector weight” rating reiterated by research analysts at KeyCorp in a research report issued to clients and investors on Wednesday,Benzinga reports.

Several other research analysts also recently weighed in on LYFT. Wells Fargo & Company dropped their target price on Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their price target on Lyft from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Benchmark raised shares of 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. Roth Capital reissued a “neutral” rating on shares of Lyft in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $21.00 price target on shares of Lyft in a research note on Monday, March 17th. Twenty-seven 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.03.

Lyft Stock Up 0.1 %

NASDAQ:LYFT opened at $12.50 on Wednesday. The company’s 50-day simple moving average is $13.02 and its 200-day simple moving average is $13.82. 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 fifty-two week low of $8.93 and a fifty-two week high of $20.37. The stock has a market capitalization of $5.23 billion, a P/E ratio of 208.83, a P/E/G ratio of 1.90 and a beta of 2.15.

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

Lyft declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now directly owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by company insiders.

Institutional Trading of Lyft

A number of institutional investors have recently made changes to their positions in LYFT. Spurstone Advisory Services LLC acquired a new position in Lyft in the 4th quarter valued at $25,000. True Wealth Design LLC acquired a new stake in shares of Lyft in the third quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Lyft in the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new position in shares of Lyft in the fourth quarter worth about $31,000. Finally, Byrne Asset Management LLC acquired a new position in Lyft during the fourth quarter worth about $35,000. 83.07% of the stock is owned by institutional investors and hedge funds.

About Lyft

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.