Lyft (NASDAQ:LYFT) PT Raised to $13.00

Lyft (NASDAQ:LYFT) had its price objective boosted by Morgan Stanley from $12.00 to $13.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an equal weight rating on the ride-sharing company’s stock.

A number of other research analysts also recently commented on the company. The Goldman Sachs Group downgraded Lyft from a buy rating to a neutral rating and boosted their price target for the company from $12.00 to $15.00 in a research note on Thursday, January 11th. Tigress Financial lifted their target price on Lyft from $22.00 to $24.00 and gave the company a buy rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. lifted their price target on shares of Lyft from $11.00 to $13.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Truist Financial raised their target price on shares of Lyft from $13.00 to $15.00 and gave the company a hold rating in a research report on Wednesday, February 14th. Finally, Barclays boosted their price objective on Lyft from $14.00 to $17.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $16.52.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $17.78 on Monday. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82. The business’s 50 day moving average price is $17.75 and its two-hundred day moving average price is $14.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market cap of $7.11 billion, a PE ratio of -19.98 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. On average, analysts predict that Lyft will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other Lyft news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.51, for a total value of $61,285.00. Following the completion of the sale, the president now directly owns 96,978 shares of the company’s stock, valued at $1,698,084.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Logan Green sold 11,867 shares of Lyft stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $15.69, for a total transaction of $186,193.23. Following the completion of the sale, the director now owns 346,341 shares of the company’s stock, valued at $5,434,090.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Kristin Sverchek sold 3,500 shares of Lyft stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.51, for a total transaction of $61,285.00. Following the sale, the president now directly owns 96,978 shares of the company’s stock, valued at $1,698,084.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,526 shares of company stock valued at $5,358,031. Company insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On Lyft

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Lyft in the 4th quarter worth approximately $94,687,000. Kodai Capital Management LP purchased a new position in Lyft during the fourth quarter valued at $26,069,000. Bank of Nova Scotia bought a new stake in shares of Lyft during the 4th quarter valued at $21,433,000. Vanguard Group Inc. grew its position in shares of Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after buying an additional 1,135,036 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Lyft by 126.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock valued at $29,041,000 after acquiring an additional 1,080,009 shares during the period. 83.07% of the stock is owned by hedge funds and other 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.