Lyft (NASDAQ:LYFT) PT Raised to $19.00

Lyft (NASDAQ:LYFT) had its price objective upped by Wedbush from $18.00 to $19.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group reissued a buy rating and issued a $23.00 target price on shares of Lyft in a report on Friday. Barclays boosted their target price on shares of Lyft from $17.00 to $20.00 and gave the company an equal weight rating in a research report on Wednesday, May 8th. Royal Bank of Canada increased their price target on shares of Lyft from $23.00 to $24.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th. UBS Group boosted their price objective on shares of Lyft from $13.00 to $14.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Finally, Tigress Financial raised their target price on Lyft from $22.00 to $24.00 and gave the stock a buy rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of Hold and an average target price of $18.04.

Lyft Price Performance

Shares of LYFT stock opened at $15.60 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. The company has a 50 day moving average price of $16.84 and a 200-day moving average price of $15.50. Lyft has a 52 week low of $8.85 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. On average, sell-side analysts predict that Lyft will post -0.2 earnings per share for the current year.

Insider Activity

In related news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total value of $142,330.61. Following the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the transaction, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Insiders sold a total of 246,033 shares of company stock worth $4,782,237 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYFT. FinTrust Capital Advisors LLC raised its position in Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the period. Allworth Financial LP increased its position in shares of Lyft by 685.2% during the 4th 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. a16z Perennial Management L.P. purchased a new stake in Lyft during the 4th quarter valued at $34,000. Kapitalo Investimentos Ltda bought a new stake in Lyft in the fourth quarter worth $34,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in Lyft by 77.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after buying an additional 1,567 shares during the period. 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.