Lyft (NASDAQ:LYFT) PT Raised to $13.00

Lyft (NASDAQ:LYFT) had its target price upped by stock analysts at Morgan Stanley from $12.00 to $13.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the ride-sharing company’s stock. Morgan Stanley’s price objective suggests a potential downside of 21.69% from the company’s current price.

Several other research analysts have also issued reports on LYFT. Wedbush reaffirmed a “neutral” rating and set a $15.00 target price (up from $14.00) on shares of Lyft in a research report on Wednesday, February 14th. Truist Financial increased their target price on shares of Lyft from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, March 5th. TD Cowen increased their price objective on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Finally, UBS Group boosted their target price on shares of Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $15.16.

Lyft Price Performance

Shares of LYFT opened at $16.60 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a market cap of $6.64 billion, a PE ratio of -18.65 and a beta of 2.05. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The business has a 50-day simple moving average of $17.75 and a two-hundred day simple moving average of $14.58.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Analysts anticipate that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other Lyft news, CAO Lisa Blackwood-Kapral sold 18,065 shares of Lyft stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the transaction, the chief accounting officer now owns 255,817 shares in the company, valued at approximately $4,108,421.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $15.69, for a total transaction of $186,193.23. Following the transaction, the director now directly owns 346,341 shares of the company’s stock, valued at $5,434,090.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of Lyft stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the transaction, the chief accounting officer now directly owns 255,817 shares in the company, valued at approximately $4,108,421.02. The disclosure for this sale can be found here. Insiders sold 280,526 shares of company stock worth $5,358,031 over the last three months. 3.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after buying an additional 664 shares during the period. Commerce Bank boosted its stake in Lyft by 2.9% in the fourth quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after acquiring an additional 782 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Lyft by 21.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after acquiring an additional 814 shares during the period. FinTrust Capital Advisors LLC increased its stake in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Lyft by 15.4% in the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after purchasing an additional 1,093 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.