Lyft (NASDAQ:LYFT) Stock Price Up 5.2%

Lyft, Inc. (NASDAQ:LYFT)’s share price rose 5.2% during mid-day trading on Friday . The stock traded as high as $14.20 and last traded at $14.08. Approximately 4,682,911 shares were traded during trading, a decline of 70% from the average daily volume of 15,576,387 shares. The stock had previously closed at $13.39.

Wall Street Analyst Weigh In

LYFT has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Lyft from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research report on Friday, June 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $23.00 price target on shares of Lyft in a research report on Friday, June 7th. DA Davidson boosted their price target on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets boosted their price target on shares of Lyft from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.00.

Lyft Trading Up 5.3 %

The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day moving average price is $15.63 and its 200-day moving average price is $15.75. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of -30.00 and a beta of 2.09.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.17 billion. Equities analysts forecast that Lyft, Inc. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lyft news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $15.54, for a total transaction of $101,010.00. Following the transaction, the president now directly owns 64,278 shares in the company, valued at $998,880.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lyft news, President Kristin Sverchek sold 6,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $15.54, for a total value of $101,010.00. Following the sale, the president now owns 64,278 shares of the company’s stock, valued at $998,880.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total transaction of $142,330.61. Following the completion of the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at approximately $5,513,536.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,833 shares of company stock worth $590,509. 3.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently modified their holdings of the company. FinTrust Capital Advisors LLC lifted its stake in shares of 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 buying an additional 1,000 shares during the period. Allworth Financial LP lifted its stake in shares of 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 buying an additional 1,672 shares during the period. a16z Perennial Management L.P. purchased a new position in shares of Lyft during the fourth quarter valued at approximately $34,000. Kapitalo Investimentos Ltda purchased a new position in shares of Lyft during the fourth quarter valued at approximately $34,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Lyft during the fourth quarter valued at approximately $40,000. Hedge funds and other 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.