Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, Tigress Financial Analyst Says

Lyft (NASDAQ:LYFT) had its price objective hoisted by equities researchers at Tigress Financial from $26.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. Tigress Financial’s target price would suggest a potential upside of 75.11% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. DA Davidson reissued a “neutral” rating and set a $15.00 price target on shares of Lyft in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their target price on shares of Lyft from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. UBS Group upped their target price on shares of Lyft from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research note on Wednesday, March 26th. Finally, BMO Capital Markets reduced their price target on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.63.

Lyft Trading Up 0.1%

LYFT opened at $15.99 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 266.50, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. The firm has a 50 day simple moving average of $12.69 and a 200 day simple moving average of $13.78. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $19.07.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. On average, sell-side analysts anticipate that Lyft will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a share buyback program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Lyft

In related news, Director Logan Green sold 11,411 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now owns 911,922 shares in the company, valued at $11,417,263.44. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,571 shares of company stock worth $465,634. Company insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LYFT. Spurstone Advisory Services LLC acquired a new position in shares of Lyft during the 4th quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lyft during the 4th quarter valued at $29,000. GAMMA Investing LLC lifted its position in shares of Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after acquiring an additional 1,237 shares during the period. Byrne Asset Management LLC acquired a new position in shares of Lyft during the 4th quarter valued at $35,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Lyft during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

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.