Lyft (NASDAQ:LYFT) Price Target Lowered to $15.00 at Mizuho

Lyft (NASDAQ:LYFTFree Report) had its target price cut by Mizuho from $16.00 to $15.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the ride-sharing company’s stock.

A number of other research analysts have also recently weighed in on the company. Zephirin Group lifted their target price on Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 6th. Royal Bank Of Canada reduced their price objective on Lyft from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 11th. KeyCorp reiterated a “sector weight” rating on shares of Lyft in a report on Wednesday, February 11th. Morgan Stanley set a $17.00 price target on shares of Lyft in a report on Wednesday, February 11th. Finally, Wells Fargo & Company reduced their price target on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.63.

Check Out Our Latest Report on Lyft

Lyft Stock Performance

NASDAQ:LYFT opened at $13.21 on Tuesday. The company has a market cap of $5.26 billion, a P/E ratio of 1.94, a P/E/G ratio of 0.83 and a beta of 1.92. The firm’s 50 day moving average is $16.92 and its two-hundred day moving average is $19.02. Lyft has a fifty-two week low of $9.66 and a fifty-two week high of $25.54. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.31.

Lyft announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the ride-sharing company to reacquire up to 15.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Lyft

In other news, CAO Stephen W. Hope sold 5,284 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.83, for a total value of $73,077.72. Following the completion of the transaction, the chief accounting officer directly owned 300,570 shares in the company, valued at approximately $4,156,883.10. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Prashant Aggarwal sold 96,900 shares of Lyft stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $22.30, for a total transaction of $2,160,870.00. Following the sale, the director directly owned 874,369 shares in the company, valued at $19,498,428.70. This trade represents a 9.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 210,437 shares of company stock valued at $4,417,438. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC increased its holdings in Lyft by 13.7% during the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after purchasing an additional 2,921 shares during the last quarter. Focus Partners Wealth increased its stake in shares of Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after buying an additional 15,621 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Lyft in the second quarter valued at $470,000. Strs Ohio bought a new position in Lyft during the 2nd quarter valued at $978,000. Finally, Machina Capital S.A.S. bought a new position in Lyft during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Trending Headlines about Lyft

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Lyft Company Profile

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Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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Analyst Recommendations for Lyft (NASDAQ:LYFT)

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