Shares of LYFT Inc (NASDAQ:LYFT) have earned an average recommendation of “Buy” from the forty-two brokerages that are covering the stock, Marketbeat reports. Fourteen analysts have rated the stock with a hold recommendation and twenty-four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $46.58.

A number of research firms have recently commented on LYFT. UBS Group dropped their price objective on LYFT from $72.00 to $45.00 and set a “positive” rating for the company in a report on Thursday, May 7th. Jefferies Financial Group dropped their price objective on LYFT from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Piper Sandler downgraded LYFT from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $63.00 to $31.00 in a report on Thursday, May 7th. Cfra dropped their price objective on LYFT from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, May 4th. Finally, Stifel Nicolaus downgraded LYFT from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $38.00 to $35.00 in a report on Monday, May 11th.

Hedge funds have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. bought a new position in shares of LYFT during the first quarter worth about $39,000. NWK Group Inc. bought a new position in shares of LYFT during the fourth quarter worth about $35,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of LYFT by 36.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 838 shares of the ride-sharing company’s stock worth $36,000 after purchasing an additional 222 shares during the last quarter. WASHINGTON TRUST Co bought a new position in LYFT in the first quarter worth about $30,000. Finally, Sunbelt Securities Inc. bought a new position in LYFT in the fourth quarter worth about $13,444,000. 62.42% of the stock is currently owned by institutional investors and hedge funds.

LYFT traded up $0.79 during trading on Thursday, hitting $33.06. The company’s stock had a trading volume of 6,745,800 shares, compared to its average volume of 9,740,671. The firm’s 50 day moving average price is $33.39 and its 200-day moving average price is $36.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $9.90 billion, a PE ratio of -5.25 and a beta of 1.68. LYFT has a twelve month low of $14.56 and a twelve month high of $68.33.

LYFT (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, May 6th. The ride-sharing company reported ($0.88) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.08) by $0.20. The company had revenue of $955.71 million during the quarter, compared to the consensus estimate of $864.44 million. LYFT had a negative return on equity of 45.73% and a negative net margin of 49.05%. Equities analysts anticipate that LYFT will post -4.82 earnings per share for the current year.

About LYFT

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

Read More: What sectors are represented in the Hang Seng index?

Analyst Recommendations 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.