Lyft (NASDAQ:LYFT) PT Raised to $18.00

Lyft (NASDAQ:LYFT) had its price objective hoisted by research analysts at DA Davidson from $15.00 to $18.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the ride-sharing company’s stock. DA Davidson’s price objective indicates a potential upside of 4.41% from the company’s current price.

A number of other brokerages have also recently weighed in on LYFT. Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, March 5th. Truist Financial upped their price target on Lyft from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. Royal Bank of Canada upgraded shares of Lyft from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $17.00 to $23.00 in a research report on Monday, March 4th. Tigress Financial boosted their target price on shares of Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Morgan Stanley increased their price objective on shares of Lyft from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.70.

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $17.24 on Wednesday. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -36.68 and a beta of 2.05. The stock’s 50-day moving average is $17.82 and its 200 day moving average is $14.62. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. Lyft has a 1-year low of $7.85 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.22 billion. On average, sell-side analysts anticipate that Lyft will post -0.35 EPS for the current fiscal year.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the sale, the director now directly owns 1,204,071 shares in the company, valued at $21,083,283.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the sale, the director now directly owns 1,204,071 shares in the company, valued at approximately $21,083,283.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $15.69, for a total transaction of $186,193.23. Following the sale, the director now owns 346,341 shares of the company’s stock, valued at $5,434,090.29. The disclosure for this sale can be found here. Insiders have sold 280,526 shares of company stock valued at $5,358,031 over the last ninety days. Insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On Lyft

Institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC grew its stake in 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 in the last quarter. Allworth Financial LP increased its position in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the last quarter. a16z Perennial Management L.P. acquired a new stake in shares of Lyft in the 4th quarter valued at $34,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Lyft during the 4th quarter worth $34,000. Finally, Gables Capital Management Inc. lifted its position in shares of Lyft by 129.0% during the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 2,000 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.