Lyft (NASDAQ:LYFT) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Lyft (NASDAQ:LYFT) announced its quarterly earnings data on Tuesday. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 Lyft stock opened at $13.25 on Thursday. Lyft has a 1 year low of $8.93 and a 1 year high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average of $14.00 and a 200 day moving average of $13.52.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LYFT shares. Jefferies Financial Group lifted their price target on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. TD Cowen increased their target price on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company lowered their price target on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. DA Davidson cut their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Wedbush decreased their price objective on Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.31.

Insiders Place Their Bets

In related news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction dated 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 owns 314,492 shares in the company, valued at $5,424,987. The trade was a 3.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Lyft announced that its board has authorized a share buyback program 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 repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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.