Lyft (NASDAQ:LYFT) Price Target Raised to $16.00

Lyft (NASDAQ:LYFT) had its target price boosted by Canaccord Genuity Group from $15.00 to $16.00 in a research note published on Monday morning,Benzinga reports. They currently have a hold rating on the ride-sharing company’s stock.

Other equities analysts also recently issued research reports about the company. Zacks Research upgraded Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Rothschild & Co Redburn raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, June 17th. DA Davidson dropped their price objective on shares of Lyft from $19.00 to $14.50 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Sanford C. Bernstein initiated coverage on shares of Lyft in a research report on Wednesday, June 17th. They issued an “underperform” rating for the company. Finally, Guggenheim reissued a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.80.

Lyft Stock Performance

Shares of Lyft stock opened at $16.58 on Monday. The stock has a market cap of $6.30 billion, a PE ratio of 2.41, a price-to-earnings-growth ratio of 1.04 and a beta of 1.80. The business has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $14.50. The company has a quick ratio of 0.58, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that Lyft will post 0.69 EPS for the current fiscal year.

Insider Activity

In other news, CAO Stephen W. Hope sold 5,460 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the sale, the chief accounting officer owned 335,463 shares in the company, valued at approximately $4,615,970.88. This represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the transaction, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This represents a 6.50% 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. Over the last three months, insiders sold 95,969 shares of company stock valued at $1,463,690. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Lyft by 7.4% in the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after buying an additional 1,773,438 shares during the last quarter. Renaissance Technologies LLC grew its stake in Lyft by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after buying an additional 1,320,938 shares during the last quarter. Altshuler Shaham Ltd raised its holdings in Lyft by 51.6% in the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after acquiring an additional 2,607,417 shares during the period. Dimensional Fund Advisors LP raised its holdings in Lyft by 58.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after acquiring an additional 2,467,010 shares during the period. Finally, Norges Bank acquired a new position in Lyft during the 4th quarter worth $109,987,000. Institutional investors own 83.07% of the company’s stock.

Lyft News Roundup

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Strong second-quarter demand supports the growth story. Lyft reported record gross bookings of $5.50 billion, up 23% year over year, while revenue increased 16% to $1.84 billion and exceeded expectations. However, adjusted earnings of $0.13 per share narrowly missed the $0.14 consensus estimate. Lyft Q2 Earnings and Efficiency Analysis
• Positive Sentiment: Analysts remain constructive, but upside expectations are moderate. Canaccord Genuity raised its Lyft price target to $16 while maintaining a Hold rating. The broader analyst consensus remains Hold, with a target price near $19.80. Canaccord Raises Lyft Price Target
• Positive Sentiment: Robotaxi partnerships and Price Lock provide longer-term catalysts. Lyft is expanding autonomous-vehicle partnerships and mobility offerings, potentially broadening its network without developing all autonomous-driving technology internally. Lyft AV Partnerships and Price Lock
• Neutral Sentiment: Insider selling is a limited negative signal. Director Janey Whiteside sold 14,220 shares worth approximately $241,740, but the transaction was made under a pre-arranged Rule 10b5-1 plan. SEC Form 4 Filing
• Negative Sentiment: Multiple North Carolina lawsuits increase litigation and reputational risk. Plaintiffs, including a Raleigh woman and an alleged assault victim’s family, accuse Lyft and its drivers of negligence in assault and fatal-crash cases. Attorney Ben Crump is also pursuing additional claims. Potential settlements, legal costs and scrutiny of driver screening could pressure future results. North Carolina Lawsuits Against Lyft
• Negative Sentiment: California drivers cleared a major unionization milestone. Union representation could raise Lyft’s labor, benefit and compliance costs because drivers are generally treated as independent contractors. California Uber and Lyft Driver Unionization
• Negative Sentiment: Privacy concerns add another headline risk. Reports that Flock Safety considered using Uber and Lyft vehicles as mobile surveillance platforms could trigger public and regulatory criticism, although the proposal was not identified as a confirmed Lyft program. Flock Safety Surveillance Proposal

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.