Lyft, Inc. (NASDAQ:LYFT) Receives Average Recommendation of “Hold” from Analysts

Shares of Lyft, Inc. (NASDAQ:LYFT) have been given a consensus recommendation of “Hold” by the thirty-four analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.7581.

Several analysts have commented on LYFT shares. Susquehanna lifted their price objective on shares of Lyft from $14.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Wall Street Zen cut shares of Lyft from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Evercore upped their price objective on Lyft from $15.00 to $30.00 and gave the company an “in-line” rating in a research note on Thursday, November 6th. Canaccord Genuity Group raised their target price on Lyft from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. Finally, Wells Fargo & Company boosted their price objective on Lyft from $20.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 9th.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 4,800 shares of the firm’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 value of $107,040.00. Following the completion of the transaction, the chief accounting officer directly owned 311,909 shares of the company’s stock, valued at approximately $6,955,570.70. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John David Risher purchased 5,030 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was bought at an average cost of $19.80 per share, with a total value of $99,594.00. Following the completion of the acquisition, the chief executive officer directly owned 11,802,296 shares of the company’s stock, valued at approximately $233,685,460.80. This trade represents a 0.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 187,443 shares of company stock valued at $4,178,618. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bogart Wealth LLC increased its holdings 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. Quent Capital LLC bought a new position in shares of Lyft in the third quarter worth $34,000. International Assets Investment Management LLC purchased a new stake in shares of Lyft in the fourth quarter worth $40,000. Abich Financial Wealth Management LLC bought a new stake in Lyft during the third quarter valued at $50,000. Finally, CI Investments Inc. boosted its stake in Lyft by 39.1% during the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 653 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 3.9%

LYFT stock opened at $16.46 on Wednesday. The stock has a market cap of $6.57 billion, a P/E ratio of 43.32, a P/E/G ratio of 1.02 and a beta of 1.93. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. The stock’s fifty day simple moving average is $19.25 and its two-hundred day simple moving average is $19.05. Lyft has a 1-year low of $9.66 and a 1-year high of $25.54.

Lyft Company Profile

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.