Lyft (NASDAQ:LYFT) PT Raised to $13.00

Lyft (NASDAQ:LYFT) had its price objective raised by Jefferies Financial Group from $10.50 to $13.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the ride-sharing company’s stock. Jefferies Financial Group’s target price would suggest a potential downside of 4.83% from the stock’s previous close.

Several other analysts also recently issued reports on LYFT. Loop Capital lowered their price target on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Barclays lowered their target price on Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada decreased their price target on Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group dropped their price objective on shares of Lyft from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial reduced their target price on shares of Lyft from $18.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twenty-six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.59.

Lyft Stock Performance

NASDAQ LYFT opened at $13.66 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The firm has a market capitalization of $5.51 billion, a P/E ratio of -29.06 and a beta of 2.04. The business’s 50-day simple moving average is $12.27 and its 200-day simple moving average is $13.80.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the company posted ($0.14) earnings per share. Lyft’s revenue was up 40.6% compared to the same quarter last year. Equities analysts predict that Lyft will post -0.09 EPS for the current year.

Insider Activity at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the sale, the insider now owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares of the company’s stock, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock worth $380,048 in the last 90 days. 3.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently modified their holdings of LYFT. FinTrust Capital Advisors LLC increased its stake in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Lyft during the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft during the second quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC bought a new stake in Lyft during the first quarter worth approximately $41,000. Finally, GAMMA Investing LLC lifted its position in Lyft by 42.9% in the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after purchasing an additional 664 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Lyft Company Profile

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.