Lyft (NASDAQ:LYFT) Given “Neutral” Rating at DA Davidson

Lyft (NASDAQ:LYFT)‘s stock had its “neutral” rating reaffirmed by equities researchers at DA Davidson in a research note issued on Wednesday,Benzinga reports. They currently have a $15.00 target price on the ride-sharing company’s stock. DA Davidson’s target price points to a potential upside of 37.61% from the stock’s previous close.

Several other research analysts have also weighed in on LYFT. Evercore ISI decreased their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. BMO Capital Markets decreased their price target on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $21.00 price objective on shares of Lyft in a research note on Monday, March 17th. UBS Group decreased their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Citigroup reissued an “overweight” rating on shares of Lyft in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.55.

Lyft Stock Up 0.1 %

LYFT stock traded up $0.01 during trading on Wednesday, reaching $10.90. The stock had a trading volume of 9,361,869 shares, compared to its average volume of 15,545,320. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average price of $12.23 and a 200 day moving average price of $13.69. The company has a market capitalization of $4.56 billion, a P/E ratio of 181.67, a PEG ratio of 1.90 and a beta of 2.13. Lyft has a 1-year low of $8.93 and a 1-year high of $19.07.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, equities analysts anticipate that Lyft will post 0.22 earnings per share for the current year.

Lyft announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock valued at $203,778 in the last 90 days. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently bought and sold shares of the business. QRG Capital Management Inc. increased its stake in shares of Lyft by 3.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock valued at $316,000 after buying an additional 903 shares in the last quarter. Sanctuary Advisors LLC increased its position in Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after acquiring an additional 969 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Lyft by 6.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock worth $207,000 after purchasing an additional 970 shares in the last quarter. US Bancorp DE grew its stake in shares of Lyft by 2.6% during the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock valued at $536,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Lyft by 42.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 1,058 shares during the last quarter. 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.