Lyft (NASDAQ:LYFT) Stock Price Down 6.3% – Time to Sell?

by · The Markets Daily

Shares of Lyft, Inc. (NASDAQ:LYFT – Get Free Report) traded down 6.3% during mid-day trading on Wednesday . The stock traded as low as $20.49 and last traded at $20.4150. 4,230,314 shares were traded during mid-day trading, a decline of 77% from the average session volume of 18,475,543 shares. The stock had previously closed at $21.78.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Lyft from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Mizuho upped their target price on Lyft from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Zephirin Group increased their price target on shares of Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, November 6th. Truist Financial boosted their price objective on shares of Lyft from $16.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Finally, Oppenheimer set a $26.00 target price on shares of Lyft and gave the company an “outperform” rating in a research note on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.92.

Get Our Latest Analysis on Lyft

Lyft Stock Performance

The stock has a market capitalization of $8.00 billion, a P/E ratio of 52.60, a PEG ratio of 2.24 and a beta of 1.99. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. The company’s fifty day simple moving average is $21.12 and its two-hundred day simple moving average is $18.03.

Lyft (NASDAQ:LYFT – Get Free Report) last issued its quarterly earnings data 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). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Transactions at Lyft

In other news, CAO Stephen W. Hope sold 4,800 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $22.30, for a total value of $107,040.00. Following the completion of the sale, the chief accounting officer owned 311,909 shares of the company’s stock, valued at approximately $6,955,570.70. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jill Beggs sold 1,466 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $20.25, for a total transaction of $29,686.50. Following the completion of the transaction, the director owned 34,278 shares in the company, valued at $694,129.50. This trade represents a 4.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 202,049 shares of company stock worth $4,470,738. 3.07% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

A number of institutional investors have recently bought and sold shares of LYFT. Quent Capital LLC acquired a new position in shares of Lyft during the 3rd quarter worth approximately $34,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 1,203 shares during the period. Atwood & Palmer Inc. acquired a new stake in Lyft during the second quarter worth approximately $32,000. Bogart Wealth LLC increased its stake in Lyft by 1,242.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after acquiring an additional 2,000 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in Lyft in the 3rd quarter valued at $50,000. Institutional investors own 83.07% of the company’s stock.

About Lyft

(Get Free Report)

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.

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