Lyft (NASDAQ:LYFT) Price Target Raised to $18.00 at TD Cowen

Lyft (NASDAQ:LYFTFree Report) had its target price upped by TD Cowen from $16.00 to $18.00 in a report published on Friday morning, Benzinga reports. They currently have a hold rating on the ride-sharing company’s stock.

LYFT has been the subject of a number of other reports. Piper Sandler reiterated an overweight rating and set a $24.00 price objective (up from $23.00) on shares of Lyft in a report on Friday. Wedbush lifted their price objective on shares of Lyft from $18.00 to $19.00 and gave the company a neutral rating in a report on Friday. Tigress Financial boosted their price target on shares of Lyft from $22.00 to $24.00 and gave the stock a buy rating in a report on Thursday, April 18th. Royal Bank of Canada restated an outperform rating and set a $24.00 price target on shares of Lyft in a report on Friday. Finally, Fox Advisors upgraded shares of 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. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $18.04.

Read Our Latest Research Report on LYFT

Lyft Stock Down 0.6 %

LYFT opened at $15.60 on Friday. The company has a fifty day moving average price of $16.84 and a two-hundred day moving average price of $15.50. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92.

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

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the sale, the chief accounting officer now owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the sale, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total transaction of $142,330.61. Following the sale, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at approximately $5,513,536.51. The disclosure for this sale can be found here. Insiders have sold a total of 246,033 shares of company stock valued at $4,782,237 over the last quarter. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several institutional investors have recently added to or reduced their stakes in LYFT. FinTrust Capital Advisors LLC boosted its position 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 valued at $26,000 after buying an additional 1,000 shares during the period. Allworth Financial LP boosted its position in 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. purchased a new stake in Lyft during the 4th quarter valued at $34,000. Kapitalo Investimentos Ltda purchased a new stake in Lyft during the 4th quarter valued at $34,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in Lyft by 77.5% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after purchasing an additional 1,567 shares in the last quarter. Hedge funds and other institutional investors 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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