Susquehanna Lowers Lyft (NASDAQ:LYFT) Price Target to $14.00

Lyft (NASDAQ:LYFT) had its price target lowered by investment analysts at Susquehanna from $18.00 to $14.00 in a research report issued on Monday, August 11th, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the ride-sharing company’s stock. Susquehanna’s price objective suggests a potential downside of 10.29% from the stock’s current price.

Several other research firms have also issued reports on LYFT. Morgan Stanley reduced their price target on Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research report on Friday, May 9th. TD Cowen raised Lyft from a “hold” rating to a “buy” rating and raised their target price for the stock from $16.00 to $21.00 in a research note on Tuesday, June 24th. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price target on shares of Lyft in a report on Thursday, June 5th. Finally, Wells Fargo & Company lifted their price target on shares of Lyft from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.70.

Lyft Price Performance

Shares of NASDAQ:LYFT traded down $0.4150 on Monday, hitting $15.6050. The company’s stock had a trading volume of 5,565,765 shares, compared to its average volume of 18,079,201. Lyft has a 1 year low of $9.66 and a 1 year high of $19.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $6.34 billion, a PE ratio of 65.02, a PEG ratio of 2.58 and a beta of 2.26. The company has a 50-day simple moving average of $14.95 and a 200 day simple moving average of $13.79.

Lyft (NASDAQ:LYFT) last released 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). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm earned $0.24 EPS. Lyft’s quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts forecast that Lyft will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In related news, CEO John David Risher acquired 6,538 shares of the firm’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 acquisition, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. This represents a 0.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jill Beggs sold 1,572 shares of Lyft 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 3.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

A number of hedge funds have recently made changes to their positions in LYFT. Maxi Investments CY Ltd boosted its position in Lyft by 320.4% during the first quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company’s stock worth $11,228,000 after acquiring an additional 720,933 shares during the last quarter. Meridiem Capital Partners LP acquired a new stake in Lyft during the fourth quarter worth about $11,571,000. Capital World Investors boosted its holdings in Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock valued at $87,404,000 after purchasing an additional 2,240,478 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Lyft by 70.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 146,038 shares of the ride-sharing company’s stock worth $1,733,000 after purchasing an additional 60,438 shares during the last quarter. Finally, RD Finance Ltd purchased a new position in shares of Lyft during the 1st quarter worth approximately $393,000. 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.