Lyft (NASDAQ:LYFT) Price Target Increased to $18.00 by Analysts at Morgan Stanley

Lyft (NASDAQ:LYFTFree Report) had its target price raised by Morgan Stanley from $17.00 to $18.00 in a research report report published on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the ride-sharing company’s stock.

A number of other equities analysts have also recently issued reports on LYFT. Bank of America raised shares of Lyft from an underperform rating to a buy rating and raised their target price for the stock from $15.00 to $20.00 in a report on Friday. Barclays lifted their price target on Lyft from $17.00 to $20.00 and gave the company an equal weight rating in a report on Wednesday, May 8th. Fox Advisors raised Lyft from an equal weight rating to an overweight rating and set a $20.00 price target on the stock in a report on Friday. Wells Fargo & Company lifted their price target on Lyft from $15.00 to $18.00 and gave the company an equal weight rating in a report on Monday, April 8th. Finally, Argus raised Lyft from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Lyft presently has a consensus rating of Hold and an average price target of $18.04.

Check Out Our Latest Research Report on Lyft

Lyft Trading Down 0.6 %

Shares of NASDAQ LYFT opened at $15.60 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50-day moving average price is $16.84 and its two-hundred day moving average price is $15.50. Lyft has a 52-week low of $8.85 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFTGet Free Report) last issued its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.17 billion. On average, research analysts predict that Lyft will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.00, for a total value of $320,000.00. Following the completion of the transaction, the president now owns 80,978 shares of the company’s stock, valued at approximately $1,619,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kristin Sverchek sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the transaction, the president now directly owns 80,978 shares of the company’s stock, valued at approximately $1,619,560. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,033 shares of company stock valued at $4,782,237. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors have recently modified their holdings of LYFT. FinTrust Capital Advisors LLC boosted 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 valued at $26,000 after buying an additional 1,000 shares during the period. Allworth Financial LP boosted its stake in shares of Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 1,672 shares during the period. a16z Perennial Management L.P. acquired a new stake in shares of Lyft during the 4th quarter valued at $34,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Lyft during the 4th quarter valued at $34,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after buying an additional 1,567 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Lyft (NASDAQ:LYFT)

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