Lyft (NASDAQ:LYFT) Price Target Raised to $13.00

Lyft (NASDAQ:LYFT) had its price objective boosted by UBS Group from $12.00 to $13.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the ride-sharing company’s stock.

Other equities analysts have also issued reports about the company. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Truist Financial lowered their price target on Lyft from $18.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Citigroup reduced their price objective on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. TD Cowen lowered their target price on shares of Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $13.00 in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.68.

Lyft Stock Performance

LYFT stock opened at $13.99 on Friday. Lyft has a 1 year low of $8.85 and a 1 year high of $20.82. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -29.77 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The stock’s fifty day moving average is $12.03 and its two-hundred day moving average is $13.85.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted ($0.14) EPS. Lyft’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, research analysts predict that Lyft will post -0.09 EPS for the current year.

Insider Transactions at Lyft

In related news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Logan Green sold 10,323 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the sale, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock worth $380,048 in the last 90 days. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Lyft by 592.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after purchasing an additional 1,218,620 shares during the last quarter. National Bank of Canada FI boosted its stake in Lyft by 27,739.2% during the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock valued at $16,665,000 after purchasing an additional 1,188,625 shares during the period. Bank of New York Mellon Corp boosted its stake in Lyft by 39.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after purchasing an additional 812,926 shares during the period. Vanguard Group Inc. grew its holdings in Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after buying an additional 782,736 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in Lyft by 600.2% in the 1st quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company’s stock worth $11,767,000 after buying an additional 521,537 shares during the period. Institutional investors and hedge funds 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.