Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, Roth Mkm Analyst Says

Lyft (NASDAQ:LYFT) had its target price upped by Roth Mkm from $13.00 to $16.00 in a report issued on Thursday morning,Benzinga reports. Roth Mkm currently has a neutral rating on the ride-sharing company’s stock.

LYFT has been the subject of several other research reports. Truist Financial upped their target price on shares of Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective (up from $12.00) on shares of Lyft in a report on Thursday. Susquehanna dropped their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Loop Capital reduced their price target on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald increased their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.23.

Lyft Stock Up 0.5 %

LYFT stock opened at $17.78 on Thursday. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a market cap of $7.29 billion, a price-to-earnings ratio of -111.13 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The business’s 50-day moving average is $12.96 and its two-hundred day moving average is $13.51.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. As a group, analysts forecast that Lyft will post -0.06 earnings per share for the current year.

Insider Transactions at Lyft

In other news, 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 transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares in the company, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total value of $50,916.00. Following the transaction, the insider now owns 760,089 shares in the company, valued at approximately $9,121,068. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 owns 929,638 shares in the company, valued at $10,523,502.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,664 shares of company stock valued at $380,048 in the last 90 days. 3.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Lyft during the 1st quarter worth $41,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft during the 2nd quarter worth about $35,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the 2nd quarter worth about $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Lyft during the 3rd quarter worth about $38,000. Finally, Quarry LP increased its position in shares of Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after purchasing an additional 3,468 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.