Lyft (NASDAQ:LYFT) Upgraded to Buy at Gordon Haskett

Gordon Haskett upgraded shares of Lyft (NASDAQ:LYFTFree Report) from a hold rating to a buy rating in a report issued on Friday morning, Marketbeat reports. The brokerage currently has $20.00 price target on the ride-sharing company’s stock, up from their previous price target of $17.00.

Several other equities analysts also recently issued reports on LYFT. Morgan Stanley upped their price objective on shares of Lyft from $12.00 to $13.00 and gave the company an equal weight rating in a research note on Monday, May 6th. Wells Fargo & Company upped their price objective on shares of Lyft from $15.00 to $18.00 and gave the company an equal weight rating in a research note on Monday, April 8th. Bank of America raised shares of Lyft from an underperform rating to a buy rating and upped their price objective for the company from $15.00 to $20.00 in a research note on Friday. DA Davidson upped their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a neutral rating in a research note on Wednesday, May 8th. Finally, TD Cowen upped their price objective on shares of Lyft from $14.00 to $16.00 and gave the company a hold rating in a research note on Wednesday, May 8th. One equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $18.04.

View Our Latest Analysis on Lyft

Lyft Trading Down 0.6 %

Shares of NASDAQ LYFT opened at $15.60 on Friday. Lyft has a 12-month low of $8.85 and a 12-month 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. The firm’s 50-day moving average is $16.84 and its two-hundred day moving average is $15.50.

Lyft (NASDAQ:LYFTGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.17 billion. Research analysts anticipate that Lyft will post -0.2 EPS for the current year.

Insider Activity at Lyft

In related 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 transaction of $142,330.61. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lyft news, President Kristin Sverchek sold 16,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the transaction, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The disclosure for this sale can be found here. In the last three months, insiders sold 246,033 shares of company stock valued at $4,782,237. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Lyft by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after acquiring an additional 782,736 shares in the last quarter. Norges Bank acquired a new position in Lyft during the 4th quarter worth $94,687,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Lyft by 1.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock worth $113,126,000 after buying an additional 63,461 shares during the last quarter. Invesco Ltd. lifted its position in shares of Lyft by 21.3% in the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after buying an additional 778,563 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock worth $54,420,000 after buying an additional 141,823 shares during the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

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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