Lyft (NASDAQ:LYFT) Research Coverage Started at Raymond James

Raymond James assumed coverage on shares of Lyft (NASDAQ:LYFT) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a market perform rating on the ride-sharing company’s stock.

Several other research firms have also weighed in on LYFT. Needham & Company LLC reissued a hold rating on shares of Lyft in a research report on Wednesday, August 7th. UBS Group dropped their target price on Lyft from $15.00 to $12.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Roth Mkm decreased their price target on shares of Lyft from $19.00 to $13.00 and set a neutral rating for the company in a report on Wednesday, August 14th. TD Cowen cut their target price on shares of Lyft from $18.00 to $15.00 and set a hold rating for the company in a research report on Thursday, August 8th. Finally, Wolfe Research initiated coverage on shares of Lyft in a report on Tuesday, July 16th. They set a peer perform rating on the stock. Twenty-six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lyft currently has an average rating of Hold and a consensus target price of $15.65.

Lyft Trading Down 0.5 %

Shares of LYFT opened at $13.28 on Tuesday. 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 has a 1-year low of $8.85 and a 1-year high of $20.82. The stock has a market capitalization of $5.45 billion, a P/E ratio of -28.25 and a beta of 2.04. The business’s 50-day moving average price is $11.55 and its 200 day moving average price is $14.58.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted ($0.14) EPS. The company’s revenue was up 40.6% on a year-over-year basis. Analysts expect that Lyft will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now owns 932,062 shares in the company, valued at approximately $10,625,506.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.81, for a total value of $41,430.00. Following the completion of the transaction, the president now directly owns 47,778 shares of the company’s stock, valued at $659,814.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. The disclosure for this sale can be found here. Insiders sold a total of 35,664 shares of company stock valued at $421,478 in the last ninety days. Company insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in Lyft by 251.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 87,800 shares of the ride-sharing company’s stock worth $1,238,000 after purchasing an additional 62,786 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Lyft in the 2nd quarter worth approximately $388,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Lyft by 40.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 33,514 shares of the ride-sharing company’s stock worth $473,000 after buying an additional 9,731 shares during the period. Quarry LP boosted its stake in Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after buying an additional 3,468 shares in the last quarter. Finally, Algert Global LLC grew its position in Lyft by 92.0% in the second quarter. Algert Global LLC now owns 213,039 shares of the ride-sharing company’s stock valued at $3,004,000 after acquiring an additional 102,109 shares during the period. 83.07% of the stock is owned by institutional investors.

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.