Lyft (NASDAQ:LYFT) Price Target Raised to $21.00 at Deutsche Bank Aktiengesellschaft

Lyft (NASDAQ:LYFT) had its target price boosted by Deutsche Bank Aktiengesellschaft from $16.00 to $21.00 in a research report sent to investors on Thursday morning, Marketbeat reports. The firm currently has a hold rating on the ride-sharing company’s stock.

LYFT has been the topic of a number of other research reports. Tigress Financial reiterated a “buy” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. Canaccord Genuity Group lowered their price objective on Lyft from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Oppenheimer increased their price objective on Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Cowen upgraded Lyft from a “hold” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $21.00 in a research report on Tuesday, June 24th. Finally, Susquehanna lowered their price objective on Lyft from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lyft presently has a consensus rating of “Hold” and an average price target of $18.30.

Lyft Trading Down 3.9%

NASDAQ:LYFT opened at $21.96 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. Lyft has a 1 year low of $9.66 and a 1 year high of $23.50. The company has a market cap of $8.93 billion, a P/E ratio of 91.50, a P/E/G ratio of 3.57 and a beta of 2.33. The stock’s fifty day moving average price is $15.96 and its two-hundred day moving average price is $14.45.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (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 business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business posted $0.24 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that Lyft will post 0.22 EPS for the current year.

Insider Activity

In related news, CEO John David Risher acquired 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average cost of $16.88 per share, with a total value of $100,030.88. Following the completion of the purchase, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider directly owned 850,388 shares in the company, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Lyft by 5.7% during the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after buying an additional 2,046,639 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after purchasing an additional 5,178,118 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Lyft by 144.9% in the second quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company’s stock worth $378,396,000 after purchasing an additional 14,205,143 shares during the last quarter. Rakuten Group Inc. bought a new stake in shares of Lyft in the first quarter worth about $130,434,000. Finally, Geode Capital Management LLC grew its stake in shares of Lyft by 0.3% in the second quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after purchasing an additional 20,354 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

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.