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

Lyft (NASDAQ:LYFT) had its price objective raised by equities researchers at Jefferies Financial Group from $10.50 to $13.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the ride-sharing company’s stock. Jefferies Financial Group’s price target suggests a potential downside of 4.83% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Barclays dropped their price target on Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Melius started coverage on shares of Lyft in a report on Monday, July 22nd. They set a “hold” rating and a $15.00 price target on the stock. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Susquehanna cut their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial reduced their target price on Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twenty-six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus price target of $15.59.

Lyft Trading Down 0.7 %

Shares of NASDAQ:LYFT opened at $13.66 on Tuesday. 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 has a market capitalization of $5.51 billion, a price-to-earnings ratio of -29.06 and a beta of 2.04. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The company has a 50 day moving average price of $12.27 and a 200 day moving average price of $13.80.

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

Insider Activity

In other news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the sale, the insider now directly owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Patrick Zimmer sold 7,188 shares of the business’s 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 directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,664 shares of company stock valued at $380,048. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently bought and sold shares of LYFT. FinTrust Capital Advisors LLC boosted its stake in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Lyft during the 2nd quarter worth about $35,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft in the 2nd quarter valued at about $35,000. Allspring Global Investments Holdings LLC bought a new position in shares of Lyft in the first quarter worth about $41,000. Finally, GAMMA Investing LLC lifted its position in shares of Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after purchasing an additional 664 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

About Lyft

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.