Lyft (NASDAQ:LYFT) Hits New 12-Month Low at $8.17

Lyft, Inc. (NASDAQ:LYFT – Get Rating) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.17 and last traded at $8.18, with a volume of 11684706 shares trading hands. The stock had previously closed at $8.41.

Analysts Set New Price Targets

Several analysts have weighed in on LYFT shares. Wedbush cut Lyft from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $17.00 to $13.00 in a report on Friday, February 10th. JPMorgan Chase & Co. cut shares of Lyft from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $15.00 in a research note on Friday, February 10th. Roth Mkm reduced their price objective on shares of Lyft from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. Truist Financial decreased their price objective on Lyft from $14.00 to $10.00 in a report on Friday, May 5th. Finally, Gordon Haskett downgraded shares of Lyft from a “buy” rating to a “hold” rating in a report on Monday, February 6th. One research analyst has rated the stock with a sell rating, twenty-eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Lyft has an average rating of “Hold” and a consensus price target of $16.34.

Lyft Stock Performance

The company has a debt-to-equity ratio of 2.07, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50 day simple moving average of $9.63 and a 200-day simple moving average of $11.46. The stock has a market cap of $3.10 billion, a P/E ratio of -1.87 and a beta of 1.74.

Lyft (NASDAQ:LYFT – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The ride-sharing company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.83). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Lyft had a negative return on equity of 134.14% and a negative net margin of 37.33%. On average, equities analysts expect that Lyft, Inc. will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of Lyft

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lyft by 17.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,292 shares of the ride-sharing company’s stock valued at $662,000 after purchasing an additional 7,484 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Lyft during the third quarter valued at about $161,000. International Assets Investment Management LLC bought a new position in shares of Lyft during the fourth quarter valued at about $50,000. Alphabet Inc. bought a new position in shares of Lyft during the third quarter valued at about $80,839,000. Finally, Cowen AND Company LLC bought a new position in shares of Lyft during the fourth quarter valued at about $441,000. Institutional investors own 79.44% of the company’s stock.

Lyft Company Profile

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Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.