Lyft (NASDAQ:LYFT) Given New $26.00 Price Target at Tigress Financial

Lyft (NASDAQ:LYFT) had its target price boosted by Tigress Financial from $24.00 to $26.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

Several other research analysts have also recently commented on LYFT. Susquehanna boosted their price target on Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Cantor Fitzgerald upped their target price on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI raised their price target on shares of Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Loop Capital cut their price target on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $23.00 price objective (up from $17.00) on shares of Lyft in a report on Thursday, November 7th. Twenty-eight investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.55.

Lyft Stock Up 3.1 %

Shares of NASDAQ:LYFT opened at $16.79 on Thursday. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of -104.94, a price-to-earnings-growth ratio of 4.73 and a beta of 2.04. The company has a 50 day moving average of $14.17 and a two-hundred day moving average of $13.55. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business earned ($0.02) EPS. The business’s revenue was up 31.6% on a year-over-year basis. As a group, analysts forecast that Lyft will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Lyft

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at $5,987,018.86. This represents a 2.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction dated 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 owns 929,638 shares in the company, valued at $10,523,502.16. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,799 shares of company stock worth $537,082 in the last three months. 3.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lyft

Hedge funds have recently modified their holdings of the company. Sei Investments Co. boosted its stake in Lyft by 55.3% during the first quarter. Sei Investments Co. now owns 98,676 shares of the ride-sharing company’s stock valued at $1,909,000 after buying an additional 35,146 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Lyft by 430.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock valued at $75,000 after purchasing an additional 3,154 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after purchasing an additional 782,736 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Lyft in the 1st quarter worth approximately $484,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Lyft by 592.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after purchasing an additional 1,218,620 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.