Key Points
- Lyft director Jill Beggs sold 2,307 shares for approximately $40,003 under a pre-arranged Rule 10b5-1 trading plan, reducing her direct ownership by 4.75% to 46,238 shares.
- Lyft reported quarterly revenue of $1.84 billion, up 16.1% year over year and above estimates, but EPS of $0.13 narrowly missed the $0.14 consensus forecast.
- Analysts maintain a consensus “Hold” rating with an average price target of $19.80, while institutional investors and hedge funds own 83.07% of the company’s stock.
Lyft, Inc. (NASDAQ:LYFT - Get Free Report) Director Jill Beggs sold 2,307 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.34, for a total transaction of $40,003.38. Following the transaction, the director directly owned 46,238 shares of the company's stock, valued at $801,766.92. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Lyft Stock Performance
NASDAQ LYFT opened at $16.90 on Tuesday. The stock has a market cap of $6.40 billion, a P/E ratio of 2.46, a PEG ratio of 1.09 and a beta of 1.80. The company's 50-day simple moving average is $15.99 and its 200 day simple moving average is $14.53. Lyft, Inc. has a twelve month low of $12.46 and a twelve month high of $25.54. 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 (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 negative return on equity of 1.20% and a net margin of 42.32%.The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. As a group, research analysts forecast that Lyft, Inc. will post 0.73 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Lyft
Hedge funds and other institutional investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new position in Lyft in the 4th quarter valued at $26,000. Plato Investment Management Ltd bought a new stake in shares of Lyft during the second quarter worth $27,000. Boreal Capital Management LLC bought a new stake in shares of Lyft during the first quarter worth $31,000. Bessemer Group Inc. increased its stake in shares of Lyft by 1,851.9% in the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company's stock valued at $35,000 after buying an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at $40,000. 83.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Susquehanna restated a "neutral" rating and set a $18.00 target price on shares of Lyft in a research report on Monday, August 10th. Truist Financial increased their price objective on Lyft from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. William Blair cut Lyft to a "market perform" rating in a report on Wednesday, June 17th. Roth Capital restated a "buy" rating and issued a $25.00 target price (up from $23.00) on shares of Lyft in a research note on Monday, August 10th. Finally, Morgan Stanley upped their target price on shares of Lyft from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Lyft currently has a consensus rating of "Hold" and an average price target of $19.80.
View Our Latest Research Report on Lyft
About Lyft
(
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.
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