Lyft (NASDAQ:LYFT) Announces Earnings Results, Beats Expectations By $6.28 EPS

Lyft (NASDAQ:LYFTGet Free Report) announced its earnings results on Tuesday. The ride-sharing company reported $6.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $6.28, FiscalAI reports. Lyft had a net margin of 2.40% and a return on equity of 18.29%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.76 billion.

Lyft Trading Up 1.4%

Shares of Lyft stock traded up $0.24 during trading on Tuesday, reaching $16.85. 32,085,083 shares of the stock were exchanged, compared to its average volume of 13,721,623. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 44.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.93. Lyft has a 1 year low of $9.66 and a 1 year high of $25.54. The stock’s fifty day moving average is $19.15 and its 200 day moving average is $19.06.

Insider Buying and Selling at Lyft

In related news, CAO Stephen W. Hope sold 4,800 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $22.30, for a total value of $107,040.00. Following the completion of the sale, the chief accounting officer owned 311,909 shares of the company’s stock, valued at $6,955,570.70. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John David Risher purchased 5,030 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average price of $19.80 per share, for a total transaction of $99,594.00. Following the acquisition, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at $233,685,460.80. This represents a 0.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 187,443 shares of company stock worth $4,178,618 over the last three months. 3.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in shares of Lyft by 410.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 2,587 shares during the period. Quarry LP lifted its holdings in Lyft by 62.8% in the third quarter. Quarry LP now owns 3,227 shares of the ride-sharing company’s stock worth $71,000 after buying an additional 1,245 shares during the period. Danske Bank A S bought a new stake in Lyft during the 3rd quarter valued at approximately $75,000. Brown Brothers Harriman & Co. grew its holdings in shares of Lyft by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 639 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in shares of Lyft during the 3rd quarter worth approximately $212,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LYFT shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lyft from $21.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Morgan Stanley lifted their price target on Lyft from $20.50 to $22.50 and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Royal Bank Of Canada increased their price objective on Lyft from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Roth Mkm set a $25.00 price objective on Lyft and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Zephirin Group upped their target price on Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.76.

Check Out Our Latest Research Report on LYFT

Key Headlines Impacting Lyft

Here are the key news stories impacting Lyft this week:

Lyft Company Profile

(Get Free Report)

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.

See Also

Earnings History for Lyft (NASDAQ:LYFT)

Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.