Lyft (NASDAQ:LYFT) PT Lowered to $41.00 at Argus

Lyft (NASDAQ:LYFT – Get Rating) had its price target decreased by Argus from $72.00 to $41.00 in a report released on Monday, The Fly reports. Argus’ price target points to a potential upside of 105.00% from the company’s previous close.

LYFT has been the topic of several other reports. Wolfe Research dropped their target price on Lyft from $46.00 to $45.00 and set a “peer perform” rating on the stock in a research report on Wednesday, February 9th. DA Davidson cut their price objective on shares of Lyft from $60.00 to $27.00 in a research report on Thursday, May 5th. BTIG Research decreased their target price on shares of Lyft from $65.00 to $60.00 in a research report on Wednesday, May 4th. Citigroup cut their price target on shares of Lyft from $95.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, February 9th. Finally, KeyCorp decreased their price objective on shares of Lyft from $72.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, January 20th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Lyft presently has an average rating of “Buy” and an average price target of $49.62.

LYFT stock opened at $20.00 on Monday. The firm has a 50 day simple moving average of $33.35 and a 200 day simple moving average of $39.14. Lyft has a 52 week low of $17.24 and a 52 week high of $63.07. The stock has a market cap of $6.97 billion, a P/E ratio of -8.73 and a beta of 1.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.14.

Lyft (NASDAQ:LYFT – Get Rating) last issued its earnings results on Tuesday, May 3rd. The ride-sharing company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.14. Lyft had a negative net margin of 22.42% and a negative return on equity of 50.06%. The company had revenue of $875.60 million during the quarter, compared to analyst estimates of $845.91 million. During the same quarter last year, the business posted ($0.86) EPS. The company’s revenue for the quarter was up 43.8% on a year-over-year basis. Sell-side analysts predict that Lyft will post -1.87 EPS for the current year.

In other Lyft news, insider Kristin Sverchek sold 3,938 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $40.00, for a total value of $157,520.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.77% of the company’s stock.

A number of institutional investors have recently modified their holdings of LYFT. Summit Trail Advisors LLC acquired a new position in Lyft in the third quarter worth $3,415,000. Copperleaf Capital LLC increased its position in Lyft by 8.3% in the 3rd quarter. Copperleaf Capital LLC now owns 11,050 shares of the ride-sharing company’s stock valued at $592,000 after acquiring an additional 844 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Lyft by 0.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,016,574 shares of the ride-sharing company’s stock worth $54,478,000 after acquiring an additional 7,483 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Lyft by 2,462.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 44,301 shares of the ride-sharing company’s stock worth $1,893,000 after purchasing an additional 42,572 shares in the last quarter. Finally, Compass Advisory Group LLC grew its stake in shares of Lyft by 16.5% during the fourth quarter. Compass Advisory Group LLC now owns 8,623 shares of the ride-sharing company’s stock valued at $368,000 after purchasing an additional 1,223 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

About Lyft (Get Rating)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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