Lyft (NASDAQ:LYFT) Upgraded at Benchmark

Benchmark upgraded shares of Lyft (NASDAQ:LYFT) from a hold rating to a buy rating in a research note published on Monday morning, MarketBeat reports. Benchmark currently has $20.00 price objective on the ride-sharing company’s stock.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. TD Cowen boosted their price target on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Tigress Financial upped their price target on shares of Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. BMO Capital Markets boosted their target price on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Evercore ISI raised their target price on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.78.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $13.36 on Monday. Lyft has a 1 year low of $8.93 and a 1 year high of $20.82. The firm has a market cap of $5.54 billion, a P/E ratio of -83.50, a PEG ratio of 4.10 and a beta of 2.14. The stock has a fifty day moving average price of $15.43 and a two-hundred day moving average price of $13.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) earnings per share. Research analysts forecast that Lyft will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 10,919 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock valued at $427,330 in the last 90 days. 3.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in Lyft in the 3rd quarter valued at $27,000. Brown Brothers Harriman & Co. bought a new stake in Lyft in the second quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new position in Lyft in the third quarter worth about $38,000. Quarry LP raised its position in Lyft by 4,032.6% in the second 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 in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Lyft during the third quarter worth about $70,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

About Lyft

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.