Lyft (NASDAQ:LYFT) Upgraded by Zacks Research to Hold Rating

Lyft (NASDAQ:LYFT) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on LYFT. Wells Fargo & Company decreased their target price on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Morgan Stanley set a $17.00 price target on shares of Lyft in a research report on Wednesday, February 11th. UBS Group reiterated a “neutral” rating on shares of Lyft in a research note on Monday, February 2nd. Evercore set a $21.00 price target on Lyft in a research report on Wednesday, February 11th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of Lyft in a report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.83.

Lyft Stock Up 1.0%

LYFT opened at $13.48 on Wednesday. The stock has a fifty day moving average of $13.69 and a 200-day moving average of $16.76. The company has a market capitalization of $5.12 billion, a P/E ratio of 1.97, a P/E/G ratio of 0.83 and a beta of 1.84. Lyft has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. On average, equities analysts expect that Lyft will post 0.66 EPS for the current year.

Lyft declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 10th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the ride-sharing company to repurchase up to 15.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Lyft news, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $13.89, for a total value of $29,071.77. Following the sale, the director owned 32,185 shares of the company’s stock, valued at approximately $447,049.65. This trade represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 5,284 shares of Lyft stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.83, for a total value of $73,077.72. Following the completion of the transaction, the chief accounting officer owned 300,570 shares in the company, valued at approximately $4,156,883.10. This represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 54,699 shares of company stock worth $771,756 over the last three months. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Lyft in the fourth quarter valued at approximately $109,987,000. Swedbank AB bought a new stake in Lyft in the fourth quarter worth approximately $108,472,000. Contour Asset Management LLC acquired a new position in Lyft in the fourth quarter valued at approximately $75,870,000. Principal Financial Group Inc. boosted its holdings in shares of Lyft by 250.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company’s stock worth $56,479,000 after buying an additional 3,033,333 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Lyft by 479.1% during the 3rd quarter. Victory Capital Management Inc. now owns 3,580,564 shares of the ride-sharing company’s stock worth $78,808,000 after buying an additional 2,962,266 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: RBC said Lyft remains on “stable competitive footing,” suggesting the company still has a defensible position even as investors worry about slower U.S. ride growth. Lyft’s Competitive Position Remains Stable Despite Growth Concerns, RBC Says
• Neutral Sentiment: Lyft and Waymo are preparing to expand autonomous vehicle operations in Nashville, which could support long-term growth if the rollout goes smoothly. Lyft Fraud Scare And Nashville AV Rollout Test Investor Confidence
• Negative Sentiment: Multiple reports say a Lyft driver used AI-generated images to falsely claim damage fees from riders, including a $75 charge, which raises concerns about fraud prevention, rider protection, and Lyft’s ability to police misconduct on its platform. Lyft driver caught using fake AI damage photos to charge Boca Raton dad a fee

About Lyft

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.