Lyft (LYFT) – Research Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Lyft (NASDAQ: LYFT):

  • 5/24/2022 – Lyft is now covered by analysts at Sanford C. Bernstein. They set a “market perform” rating and a $22.00 price target on the stock.
  • 5/16/2022 – Lyft had its price target lowered by analysts at Argus from $72.00 to $41.00.
  • 5/5/2022 – Lyft had its price target lowered by analysts at DA Davidson from $60.00 to $27.00.
  • 5/5/2022 – Lyft had its price target lowered by analysts at Morgan Stanley from $64.00 to $40.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at Cowen Inc from $68.00 to $42.00. They now have an “outperform” rating on the stock.
  • 5/4/2022 – Lyft was downgraded by analysts at Susquehanna from a “positive” rating to a “neutral” rating. They now have a $25.00 price target on the stock, down previously from $54.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at MKM Partners from $49.00 to $32.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at Royal Bank of Canada from $50.00 to $42.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at Canaccord Genuity Group Inc. from $58.00 to $52.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at Truist Financial Co. from $58.00 to $50.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at Wedbush from $50.00 to $32.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $43.00 to $28.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at BTIG Research from $65.00 to $60.00.
  • 5/4/2022 – Lyft had its price target lowered by analysts at Barclays PLC from $47.00 to $32.00.
  • 4/29/2022 – Lyft had its “outperform” rating reaffirmed by analysts at Wedbush.

NASDAQ LYFT opened at $16.72 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68. Lyft, Inc. has a 1 year low of $16.57 and a 1 year high of $63.07. The company has a fifty day simple moving average of $30.83 and a 200 day simple moving average of $37.77. The company has a market cap of $5.83 billion, a P/E ratio of -7.30 and a beta of 1.79.

Lyft (NASDAQ:LYFTGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The ride-sharing company reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $875.60 million during the quarter, compared to analysts’ expectations of $845.91 million. During the same quarter last year, the company posted ($0.86) EPS. The company’s quarterly revenue was up 43.8% compared to the same quarter last year. Equities research analysts forecast that Lyft, Inc. will post -1.87 EPS for the current fiscal year.

In related news, insider Kristin Sverchek sold 3,938 shares of the company’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $40.00, for a total transaction of $157,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.77% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Lyft by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 25,428,704 shares of the ride-sharing company’s stock valued at $976,462,000 after buying an additional 483,630 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Lyft by 7.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,588,945 shares of the ride-sharing company’s stock valued at $353,102,000 after purchasing an additional 484,642 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Lyft by 46.4% in the 1st quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock worth $248,485,000 after acquiring an additional 2,050,430 shares during the last quarter. American Century Companies Inc. increased its holdings in Lyft by 25.9% in the 1st quarter. American Century Companies Inc. now owns 6,068,020 shares of the ride-sharing company’s stock worth $233,012,000 after acquiring an additional 1,249,383 shares during the last quarter. Finally, Primecap Management Co. CA increased its holdings in Lyft by 15.2% in the 3rd quarter. Primecap Management Co. CA now owns 4,842,341 shares of the ride-sharing company’s stock worth $259,501,000 after acquiring an additional 640,410 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

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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