Lyft (NASDAQ:LYFT) Upgraded by Fox Advisors to “Overweight”

Fox Advisors upgraded shares of Lyft (NASDAQ:LYFTFree Report) from an equal weight rating to an overweight rating in a report released on Friday, MarketBeat reports. The firm currently has $20.00 price objective on the ride-sharing company’s stock.

A number of other brokerages have also recently issued reports on LYFT. Gordon Haskett raised shares of Lyft from a hold rating to a buy rating and boosted their target price for the company from $17.00 to $20.00 in a report on Friday. Piper Sandler increased their price objective on Lyft from $22.00 to $23.00 and gave the stock an overweight rating in a report on Wednesday, May 8th. Citigroup lifted their target price on Lyft from $15.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, May 8th. DA Davidson raised their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group upped their target price on shares of Lyft from $16.00 to $19.00 and gave the stock a neutral rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $18.04.

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Lyft Stock Performance

Shares of LYFT opened at $15.60 on Friday. Lyft has a 1 year low of $8.85 and a 1 year high of $20.82. 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 stock’s fifty day moving average price is $16.84 and its two-hundred day moving average price is $15.50. The firm has a market cap of $6.29 billion, a PE ratio of -33.19 and a beta of 2.09.

Lyft (NASDAQ:LYFTGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.09. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. On average, equities research analysts forecast that Lyft will post -0.2 EPS for the current year.

Insider Activity at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the firm’s stock in a transaction 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 approximately $5,513,536.51. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the sale, the chief accounting officer now owns 351,853 shares in the company, valued at approximately $5,513,536.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Patrick Zimmer sold 193,200 shares of the business’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 transaction, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The disclosure for this sale can be found here. Insiders sold 246,033 shares of company stock worth $4,782,237 in the last three months. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently modified their holdings of LYFT. Principal Financial Group Inc. lifted its holdings in Lyft by 8.3% in the third quarter. Principal Financial Group Inc. now owns 39,617 shares of the ride-sharing company’s stock worth $418,000 after buying an additional 3,029 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Lyft during the third quarter valued at approximately $581,000. Amalgamated Bank grew its stake in Lyft by 3.7% in the third quarter. Amalgamated Bank now owns 70,119 shares of the ride-sharing company’s stock worth $739,000 after purchasing an additional 2,498 shares during the period. Swiss National Bank raised its holdings in Lyft by 1.0% in the third quarter. Swiss National Bank now owns 730,900 shares of the ride-sharing company’s stock worth $7,704,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Spire Wealth Management lifted its position in Lyft by 129.6% during the third quarter. Spire Wealth Management now owns 10,967 shares of the ride-sharing company’s stock valued at $116,000 after buying an additional 6,190 shares during the period. 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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