Lyft (NASDAQ:LYFT) Issues Quarterly Earnings Results

Lyft (NASDAQ:LYFT) announced its earnings results on Tuesday. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10), Zacks reports. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $14.39 on Wednesday. Lyft has a one year low of $8.93 and a one year high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $13.51. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -89.94, a PEG ratio of 1.94 and a beta of 2.16.

Lyft announced that its board has initiated a share repurchase plan on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LYFT. Evercore ISI upped their price target on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Canaccord Genuity Group upped their target price on Lyft from $18.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays decreased their price target on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Loop Capital increased their target price on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.81.

Insider Buying and Selling at Lyft

In related news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.07% of the company’s stock.

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.