Lyft (NASDAQ:LYFT) Now Covered by Analysts at Benchmark

Benchmark began coverage on shares of Lyft (NASDAQ:LYFT) in a report published on Friday, MarketBeat reports. The brokerage issued a hold rating on the ride-sharing company’s stock.

A number of other equities analysts also recently weighed in on LYFT. TD Cowen dropped their target price on Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group upped their target price on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a report on Tuesday. Susquehanna dropped their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Wolfe Research began coverage on Lyft in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.59.

Lyft Trading Down 2.7 %

Shares of LYFT opened at $13.41 on Friday. The business’s 50-day moving average price is $12.33 and its 200 day moving average price is $13.80. The stock has a market capitalization of $5.50 billion, a P/E ratio of -83.81 and a beta of 2.04. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. Lyft’s revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) EPS. Analysts expect that Lyft will post -0.09 earnings per share for the current year.

Insider Activity

In other news, Director Logan Green sold 10,323 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Logan Green sold 10,323 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,664 shares of company stock valued at $380,048. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FinTrust Capital Advisors LLC raised its stake in shares of Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Lyft in the first quarter valued at $41,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft in the second quarter valued at $35,000. International Assets Investment Management LLC acquired a new position in shares of Lyft in the second quarter valued at $35,000. Finally, Quarry LP raised its stake in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 3,468 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Company Profile

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.