Lyft (NASDAQ:LYFT) Earns Hold Rating from Needham & Company LLC

Lyft (NASDAQ:LYFT)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports.

Several other analysts also recently issued reports on LYFT. JPMorgan Chase & Co. cut their price objective on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their price target on shares of Lyft from $18.00 to $17.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. UBS Group lifted their price objective on shares of Lyft from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Susquehanna reduced their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Barclays lowered their price target on Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.94.

Lyft Price Performance

Shares of Lyft stock opened at $14.40 on Thursday. Lyft has a 52 week low of $8.93 and a 52 week 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. The stock has a market cap of $5.91 billion, a PE ratio of -90.00 and a beta of 2.04. The company’s 50-day moving average price is $12.71 and its two-hundred day moving average price is $13.50.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the company earned ($0.14) earnings per share. The firm’s revenue was up 40.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Lyft will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now owns 764,332 shares of the company’s stock, valued at $8,988,544.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now owns 929,638 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,664 shares of company stock valued at $380,048. Insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Lyft in the 2nd quarter valued at $35,000. Brown Brothers Harriman & Co. bought a new stake in Lyft in the second quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new position in Lyft in the third quarter worth about $38,000. Allspring Global Investments Holdings LLC bought a new position in Lyft during the first quarter worth about $41,000. Finally, Quarry LP boosted its holdings in Lyft by 4,032.6% during 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.

About Lyft

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.