Brokerages Set Lyft, Inc. (NASDAQ:LYFT) PT at $22.67

by · The Cerbat Gem

Shares of Lyft, Inc. (NASDAQ:LYFT – Get Free Report) have been given a consensus recommendation of “Hold” by the thirty-six ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, twenty-three have given a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.6719.

A number of equities analysts recently weighed in on LYFT shares. Morgan Stanley lifted their price target on Lyft from $20.50 to $22.50 and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Benchmark reissued a “buy” rating on shares of Lyft in a research report on Tuesday, October 28th. Barclays boosted their price target on shares of Lyft from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. UBS Group raised their price objective on shares of Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Finally, Truist Financial boosted their target price on shares of Lyft from $16.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, November 7th.

Read Our Latest Research Report on LYFT

Insider Activity

In other news, Director Prashant Aggarwal sold 96,900 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $22.30, for a total value of $2,160,870.00. Following the transaction, the director owned 874,369 shares in the company, valued at $19,498,428.70. This represents a 9.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total transaction of $107,040.00. Following the transaction, the chief accounting officer directly owned 311,909 shares in the company, valued at $6,955,570.70. The trade was a 1.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 187,443 shares of company stock valued at $4,178,618 in the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Hedge funds and other institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lyft in the 2nd quarter valued at approximately $32,000. Bogart Wealth LLC lifted its holdings in Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 2,000 shares during the last quarter. Quent Capital LLC bought a new stake in Lyft during the third quarter worth approximately $34,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Lyft during the third quarter valued at approximately $50,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Price Performance

NASDAQ LYFT opened at $19.69 on Friday. Lyft has a 1 year low of $9.66 and a 1 year high of $25.54. The business’s fifty day moving average is $20.66 and its two-hundred day moving average is $18.74. The stock has a market capitalization of $7.86 billion, a P/E ratio of 51.82, a P/E/G ratio of 1.22 and a beta of 1.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72.

Lyft (NASDAQ:LYFT – Get Free Report) last issued its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, research analysts forecast that Lyft will post 0.22 earnings per share for the current fiscal year.

About Lyft

(Get Free Report)

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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