Cantor Fitzgerald Reaffirms Neutral Rating for Lyft (NASDAQ:LYFT)

Lyft (NASDAQ:LYFT)‘s stock had its “neutral” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $13.00 price target on the ride-sharing company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 1.72% from the stock’s current price.

A number of other equities research analysts also recently commented on LYFT. Barclays dropped their price objective on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Fox Advisors raised Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Friday, June 7th. Susquehanna dropped their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Vertical Research upgraded Lyft to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Canaccord Genuity Group lowered their price target on Lyft from $23.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Twenty-six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $15.65.

Lyft Trading Down 0.5 %

NASDAQ:LYFT traded down $0.06 during trading hours on Monday, reaching $12.78. 1,810,339 shares of the stock were exchanged, compared to its average volume of 15,163,750. Lyft has a twelve month low of $8.85 and a twelve month high of $20.82. The business has a 50-day moving average of $11.57 and a two-hundred day moving average of $14.49. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -27.26 and a beta of 2.04. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping 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 business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, equities analysts predict that Lyft will post -0.16 EPS for the current year.

Insider Buying and Selling at Lyft

In related news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock worth $380,048 in the last 90 days. 3.07% of the stock is owned by company insiders.

Institutional Trading of Lyft

A number of institutional investors have recently added to or reduced their stakes in LYFT. 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 worth $26,000 after purchasing an additional 1,000 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Lyft during the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new stake in shares of Lyft during the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft during the second quarter worth $35,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Lyft in the fourth quarter valued at $40,000. 83.07% of the stock is owned by hedge funds and other 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.