Lyft (NASDAQ:LYFT) Given New $16.00 Price Target at Scotiabank

Lyft (NASDAQ:LYFT) had its price target cut by Scotiabank from $17.00 to $16.00 in a report released on Friday,Benzinga reports. They currently have a sector perform rating on the ride-sharing company’s stock.

LYFT has been the topic of a number of other research reports. Jefferies Financial Group lifted their price objective on shares of Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Truist Financial raised their price target on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $17.00 price target on shares of Lyft in a research note on Monday, August 10th. BMO Capital Markets restated a “market perform” rating on shares of Lyft in a research note on Friday. Finally, Zacks Research upgraded Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

Lyft Stock Down 4.2%

Shares of LYFT stock traded down $0.75 during trading hours on Friday, reaching $17.09. The company had a trading volume of 23,907,601 shares, compared to its average volume of 9,795,465. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. Lyft has a twelve month low of $12.46 and a twelve month high of $25.54. The company has a market capitalization of $6.47 billion, a P/E ratio of 2.54, a price-to-earnings-growth ratio of 1.03 and a beta of 2.06. The stock’s fifty day simple moving average is $16.20 and its 200 day simple moving average is $15.13.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, November 5th. The ride-sharing company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.23). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. As a group, sell-side analysts expect that Lyft will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Janey Whiteside sold 5,480 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $17.68, for a total value of $96,886.40. Following the completion of the sale, the director directly owned 60,704 shares in the company, valued at approximately $1,073,246.72. The trade was a 8.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total value of $79,943.29. Following the completion of the sale, the director owned 119,124 shares of the company’s stock, valued at $2,064,418.92. This trade represents a 3.73% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 61,586 shares of company stock worth $1,024,326. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Several institutional investors have recently added to or reduced their stakes in LYFT. Plato Investment Management Ltd bought a new position in shares of Lyft in the 2nd quarter worth about $27,000. Heritage Family Offices LLP bought a new stake in shares of Lyft during the 3rd quarter valued at about $29,000. Boreal Capital Management LLC bought a new stake in shares of Lyft during the 1st quarter valued at about $31,000. Signaturefd LLC raised its stake in Lyft by 166.5% during the third quarter. Signaturefd LLC now owns 2,593 shares of the ride-sharing company’s stock worth $39,000 after acquiring an additional 1,620 shares during the period. Finally, Bessemer Group Inc. raised its stake in Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 83.07% of the company’s stock.

Lyft News Summary

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft reported record rides and gross bookings for Q3, with coverage also highlighting stronger adjusted EBITDA. The CEO said rider growth has remained in double digits for eight consecutive quarters. Lyft reports record rides and gross bookings
• Positive Sentiment: Lyft launched Lyft Go, a $9.99 monthly membership bundling DoorDash DashPass with ride credits. The offering could encourage customer retention and increase use across both services. Lyft debuts joint membership with DoorDash
• Positive Sentiment: Lyft is expanding its Waymo robotaxi fleet in Nashville, while CEO David Risher said autonomous vehicles are not hurting the company’s business. Partnerships may let Lyft participate in autonomous rides without building its own fleet. Lyft to expand Waymo robotaxi fleet
• Neutral Sentiment: Truist raised its price target to $18 from $16 but kept a Hold rating, suggesting limited near-term conviction despite the higher valuation estimate. Truist rating and target
• Negative Sentiment: Q3 results disappointed on reported figures: Lyft posted a $0.03-per-share loss and $1.82 billion in revenue, below cited consensus estimates. Legal, tax, and regulatory reserve changes and settlements—including a reported $117.9 million charge—dented results, although some coverage emphasized stronger adjusted performance. Lyft posts surprise loss on settlement
• Negative Sentiment: Analysts flagged slowing growth and execution risks. Scotiabank cut its target to $16 from $17, and Rosenblatt lowered its target to $18 from $19; both maintained cautious ratings. Analyst commentary on Lyft

About Lyft

Lyft, Inc is a technology company that operates a transportation network platform in the United States and Canada. Its platform connects passengers with drivers through a mobile application and website, primarily offering on-demand rides in private vehicles, taxis and other transportation options.

The company also provides access to bicycles and scooters in select markets, as well as vehicle rentals and transportation solutions for businesses, healthcare organizations and other institutions.