Lyft (NASDAQ:LYFT) Raised to Hold at Rosenblatt Securities

Lyft (NASDAQ:LYFT) was upgraded by Rosenblatt Securities to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other analysts have also issued reports on LYFT. JPMorgan Chase & Co. lifted their price target on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Zacks Research raised shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lyft in a research note on Monday, August 3rd. Susquehanna reissued a “neutral” rating and set a $18.00 price objective on shares of Lyft in a report on Monday, August 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Lyft in a research report on Tuesday, August 18th. Thirteen analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.77.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $16.77 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. Lyft has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The business has a 50 day moving average price of $16.05 and a two-hundred day moving average price of $14.55. The firm has a market cap of $6.35 billion, a PE ratio of 2.44, a price-to-earnings-growth ratio of 1.04 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. Sell-side analysts expect that Lyft will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $17.63, for a total transaction of $264,450.00. Following the transaction, the chief financial officer directly owned 852,303 shares in the company, valued at $15,026,101.89. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of Lyft stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.33, for a total transaction of $79,943.29. Following the completion of the transaction, the director directly owned 119,124 shares of the company’s stock, valued at approximately $2,064,418.92. This represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,816 shares of company stock worth $1,615,095. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of Lyft by 58.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after buying an additional 2,467,010 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Lyft by 36.6% in the first quarter. Bank of New York Mellon Corp now owns 2,289,671 shares of the ride-sharing company’s stock worth $30,453,000 after acquiring an additional 613,494 shares during the last quarter. West Tower Group LLC lifted its holdings in Lyft by 207.6% in the first quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock worth $1,841,000 after acquiring an additional 93,432 shares during the last quarter. OP Asset Management Ltd acquired a new position in Lyft in the first quarter valued at approximately $992,000. Finally, Mawer Investment Management Ltd. acquired a new position in Lyft in the fourth quarter valued at approximately $9,841,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Key Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: New advertising partnership: Lyft Ads and United Airlines are creating a dynamic advertising partnership, potentially expanding Lyft’s higher-margin advertising revenue and strengthening its position with travel-oriented consumers. Lyft Ads and United Airlines partnership
• Positive Sentiment: New analyst coverage: Rosenblatt Securities initiated coverage with a “neutral” rating and a $19 price target, which is above the stock’s recent trading level. While not a bullish endorsement, the target suggests potential upside and adds another Wall Street view to the stock’s coverage.

About Lyft

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.