Lyft’s (LYFT) Market Perform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Lyft (NASDAQ:LYFT) in a report issued on Thursday morning, MarketBeat reports. BMO Capital Markets currently has a $16.00 price objective on the ride-sharing company’s stock, up from their prior price objective of $15.00.

Other research analysts have also issued research reports about the company. Morgan Stanley cut their price objective on Lyft from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Citigroup restated a “hold” rating and set a $14.00 price objective (down previously from $22.00) on shares of Lyft in a research report on Friday, June 27th. Susquehanna raised their price objective on Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Roth Capital upgraded Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday. Finally, DA Davidson restated a “neutral” rating and set a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $16.84.

Lyft Price Performance

NASDAQ:LYFT opened at $13.42 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $15.03 and its two-hundred day simple moving average is $13.75. The stock has a market cap of $5.61 billion, a PE ratio of 55.93, a P/E/G ratio of 2.63 and a beta of 2.26. Lyft has a 52 week low of $9.53 and a 52 week high of $19.07.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.22%. Lyft’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. As a group, analysts forecast that Lyft will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LYFT. American Century Companies Inc. boosted its position in shares of Lyft by 335.7% during the fourth quarter. American Century Companies Inc. now owns 102,614 shares of the ride-sharing company’s stock valued at $1,324,000 after buying an additional 79,062 shares during the period. Alliancebernstein L.P. raised its stake in shares of Lyft by 53.9% during the fourth quarter. Alliancebernstein L.P. now owns 120,562 shares of the ride-sharing company’s stock valued at $1,555,000 after acquiring an additional 42,218 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lyft by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 6,309,681 shares of the ride-sharing company’s stock valued at $81,419,000 after acquiring an additional 443,109 shares in the last quarter. World Investment Advisors bought a new stake in shares of Lyft during the fourth quarter valued at approximately $185,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Lyft by 46.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,444,427 shares of the ride-sharing company’s stock valued at $18,633,000 after acquiring an additional 457,273 shares in the last quarter. 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.