Lyft (NASDAQ:LYFT) PT Raised to $18.00

Lyft (NASDAQ:LYFT) had its price objective boosted by equities researchers at Citigroup from $15.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. Citigroup’s price objective points to a potential upside of 4.41% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Lyft from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday. BMO Capital Markets raised their target price on Lyft from $15.00 to $18.00 and gave the company a “market perform” rating in a report on Wednesday. TD Cowen raised their price objective on Lyft from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday. Moffett Nathanson upgraded shares of Lyft from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 14th. Finally, Truist Financial boosted their price target on shares of Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.70.

Lyft Stock Down 3.0 %

LYFT stock opened at $17.24 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The company’s 50 day moving average is $17.82 and its two-hundred day moving average is $14.62. The stock has a market cap of $6.89 billion, a P/E ratio of -36.68 and a beta of 2.05. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Research analysts expect that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the sale, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $15.69, for a total transaction of $186,193.23. Following the completion of the transaction, the director now owns 346,341 shares in the company, valued at approximately $5,434,090.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,526 shares of company stock valued at $5,358,031. Company insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LYFT. FinTrust Capital Advisors LLC increased its position in Lyft by 277.8% during the 1st 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 in the last quarter. Allworth Financial LP raised its holdings in Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Lyft during the 1st quarter valued at about $41,000. GAMMA Investing LLC raised its holdings in Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after acquiring an additional 664 shares during the period. Finally, a16z Perennial Management L.P. purchased a new stake in Lyft during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.