Lyft (NASDAQ:LYFT) Upgraded at Roth Capital

Roth Capital upgraded shares of Lyft (NASDAQ:LYFT) from a neutral rating to a buy rating in a research report report published on Thursday, MarketBeat reports. They currently have $19.00 price target on the ride-sharing company’s stock.

A number of other research analysts also recently weighed in on the stock. Susquehanna upped their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. DA Davidson reiterated a “neutral” rating and issued a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. Sanford C. Bernstein upped their price objective on shares of Lyft from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Monday, July 21st. Morgan Stanley decreased their price objective on shares of Lyft from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Citigroup reiterated a “hold” rating and issued a $14.00 price objective (down previously from $22.00) on shares of Lyft in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.84.

Lyft Trading Down 5.5%

NASDAQ LYFT opened at $13.42 on Thursday. The company has a market capitalization of $5.61 billion, a PE ratio of 55.93, a P/E/G ratio of 2.63 and a beta of 2.26. The company has a fifty day moving average of $15.03 and a 200 day moving average of $13.75. Lyft has a 1 year low of $9.53 and a 1 year high of $19.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a return on equity of 14.22% and a net margin of 1.51%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. Research analysts forecast that Lyft will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other news, CEO John David Risher purchased 6,538 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was acquired at an average price of $15.29 per share, with a total value of $99,966.02. Following the purchase, the chief executive officer directly owned 11,791,340 shares in the company, valued at approximately $180,289,588.60. This represents a 0.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jill Beggs sold 1,572 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the sale, the director directly owned 20,467 shares of the company’s stock, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. 3.07% of the stock is owned by insiders.

Institutional Trading of Lyft

Several hedge funds have recently made changes to their positions in LYFT. Spurstone Advisory Services LLC purchased a new stake in shares of Lyft in the 4th quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Lyft by 162.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 1,203 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Lyft in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC grew its stake in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after buying an additional 1,237 shares during the period. Finally, Bogart Wealth LLC grew its stake in shares of Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors 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.