Lyft (NASDAQ:LYFT) Earns Neutral Rating from Analysts at Rosenblatt Securities

Investment analysts at Rosenblatt Securities started coverage on shares of Lyft (NASDAQ:LYFT) in a note issued to investors on Tuesday, Benzinga reports. The brokerage set a “neutral” rating and a $19.00 price target on the ride-sharing company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 12.43% from the stock’s previous close.

LYFT has been the subject of several other reports. William Blair cut Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Citigroup began coverage on Lyft in a report on Wednesday, June 17th. They set a “buy” rating on the stock. Jefferies Financial Group upped their target price on Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a report on Tuesday, July 14th. Zacks Research raised shares of Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Tigress Financial reiterated a “buy” rating and issued a $28.00 price objective on shares of Lyft in a research report on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.77.

Lyft Trading Down 4.5%

LYFT stock opened at $16.90 on Tuesday. The company’s 50-day simple moving average is $15.99 and its 200-day simple moving average is $14.53. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. Lyft has a 52-week low of $12.46 and a 52-week high of $25.54. The firm has a market cap of $6.40 billion, a P/E ratio of 2.46, a PEG ratio of 1.09 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last posted its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. Lyft’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. As a group, equities analysts forecast that Lyft will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Lindsay Catherine Llewellyn sold 36,214 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $16.14, for a total value of $584,493.96. Following the completion of the transaction, the insider directly owned 817,517 shares of the company’s stock, valued at $13,194,724.38. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total transaction of $79,943.29. Following the completion of the transaction, the director directly owned 119,124 shares in the company, valued at $2,064,418.92. This trade represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 98,816 shares of company stock worth $1,615,095. 0.92% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

Large investors have recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in shares of Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after buying an additional 2,921 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Lyft by 44.0% during the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after buying an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Lyft in the 2nd quarter valued at about $470,000. Invesco Ltd. raised its stake in Lyft by 87.5% during the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock valued at $16,783,000 after acquiring an additional 497,118 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Lyft by 12.6% during the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock valued at $11,177,000 after acquiring an additional 79,634 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.