Lyft’s (LYFT) “Hold” Rating Reiterated at Needham & Company LLC

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

LYFT has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Raymond James started coverage on shares of Lyft in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Citigroup cut their price target on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Benchmark began coverage on Lyft in a research report on Friday, October 25th. They issued a “hold” rating for the company. One equities research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lyft has an average rating of “Hold” and an average target price of $15.94.

Lyft Stock Performance

NASDAQ LYFT opened at $14.40 on Thursday. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82. The company has a 50 day moving average of $12.71 and a 200-day moving average of $13.50. 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 firm has a market cap of $5.91 billion, a price-to-earnings ratio of -90.00 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data 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. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) EPS. On average, equities analysts forecast that Lyft will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the sale, the director now directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John Patrick Zimmer sold 7,188 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares in the company, valued at $10,625,506.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total value of $50,916.00. Following the sale, the insider now owns 760,089 shares in the company, valued at $9,121,068. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock worth $380,048 over the last three months. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in Lyft during the first quarter worth $41,000. Brown Brothers Harriman & Co. bought a new stake in shares of Lyft in the 2nd quarter valued at about $35,000. International Assets Investment Management LLC bought a new stake in shares of Lyft in the 2nd quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new stake in Lyft in the 3rd quarter valued at about $38,000. Finally, Quarry LP grew 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 worth $50,000 after purchasing an additional 3,468 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.