Tigress Financial Raises Lyft (NASDAQ:LYFT) Price Target to $24.00

Lyft (NASDAQ:LYFT) had its price target increased by research analysts at Tigress Financial from $22.00 to $24.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. Tigress Financial’s price objective points to a potential upside of 48.61% from the company’s previous close.

Other analysts have also issued research reports about the stock. Moffett Nathanson upgraded shares of Lyft from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 14th. UBS Group boosted their price target on shares of Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Piper Sandler boosted their price target on shares of Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. TD Cowen boosted their price target on shares of Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group lowered shares of Lyft from a “buy” rating to a “neutral” rating and boosted their price target for the company from $12.00 to $15.00 in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.60.

Lyft Trading Down 3.4 %

Lyft stock opened at $16.15 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The firm’s fifty day moving average is $17.65 and its 200 day moving average is $14.03.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. As a group, research analysts predict that Lyft will post -0.35 EPS for the current fiscal year.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares in the company, valued at $18,688,181.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares of the company’s stock, valued at $18,688,181.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $16.06, for a total transaction of $290,123.90. Following the sale, the chief accounting officer now directly owns 255,817 shares in the company, valued at $4,108,421.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,526 shares of company stock worth $5,195,771. 3.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lyft

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in Lyft by 685.2% during the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lyft in the first quarter worth about $41,000. GAMMA Investing LLC lifted its holdings in shares of Lyft by 42.9% in the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after buying an additional 664 shares in the last quarter. a16z Perennial Management L.P. purchased a new stake in shares of Lyft in the fourth quarter worth about $34,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Lyft in the fourth quarter worth about $34,000. 83.07% of the stock is owned by hedge funds and other 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.