Lyft (NASDAQ:LYFT) Downgraded to “Market Perform” at Cowen

Cowen downgraded shares of Lyft (NASDAQ:LYFTGet Rating) from an outperform rating to a market perform rating in a report released on Monday, The Fly reports.

A number of other analysts have also recently issued reports on LYFT. Wells Fargo & Company reduced their target price on shares of Lyft from $42.00 to $30.00 in a research note on Wednesday, November 9th. Atlantic Securities reduced their target price on shares of Lyft to $14.00 in a research note on Tuesday, November 15th. Barclays reduced their target price on shares of Lyft from $20.00 to $18.00 and set an equal weight rating for the company in a research note on Tuesday, November 8th. MKM Partners reduced their target price on shares of Lyft from $32.00 to $17.00 in a research note on Wednesday, July 27th. Finally, Guggenheim reduced their price objective on shares of Lyft from $32.00 to $28.00 and set a buy rating for the company in a research note on Monday, August 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lyft presently has a consensus rating of Hold and an average price target of $28.21.

Lyft Price Performance

NASDAQ LYFT opened at $11.05 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $3.99 billion, a PE ratio of -3.09 and a beta of 1.68. The company has a 50 day moving average price of $13.62 and a two-hundred day moving average price of $15.20. Lyft has a 12-month low of $10.60 and a 12-month high of $47.41.

Institutional Trading of Lyft

Large investors have recently bought and sold shares of the business. MCF Advisors LLC bought a new stake in Lyft during the 1st quarter worth approximately $25,000. Castleview Partners LLC increased its stake in Lyft by 1,228.0% during the 2nd quarter. Castleview Partners LLC now owns 664 shares of the ride-sharing company’s stock worth $50,000 after purchasing an additional 614 shares in the last quarter. Elequin Capital LP bought a new stake in Lyft during the 1st quarter worth approximately $26,000. Prospera Financial Services Inc bought a new stake in Lyft during the 1st quarter worth approximately $59,000. Finally, Clearstead Advisors LLC grew its stake in shares of Lyft by 58.9% during the 2nd quarter. Clearstead Advisors LLC now owns 1,845 shares of the ride-sharing company’s stock worth $25,000 after acquiring an additional 684 shares in the last quarter. 76.49% of the stock is owned by institutional investors.

Lyft Company Profile

(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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Analyst Recommendations for Lyft (NASDAQ:LYFT)

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