Lyft (NASDAQ:LYFT – Get Free Report) had its price target dropped by equities researchers at Truist Financial from $18.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the ride-sharing company’s stock. Truist Financial’s target price would suggest a potential upside of 12.44% from the company’s previous close.
LYFT has been the topic of a number of other reports. Wells Fargo & Company reduced their target price on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Mizuho lowered their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Morgan Stanley set a $17.00 price target on Lyft in a research report on Wednesday, February 11th. Evercore set a $21.00 price objective on Lyft in a research note on Wednesday, February 11th. Finally, Barclays decreased their price objective on Lyft from $27.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.55.
View Our Latest Research Report on LYFT
Lyft Trading Up 0.4%
Lyft announced that its board has initiated a stock buyback program on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Insider Buying and Selling
In other Lyft news, CAO Stephen W. Hope sold 5,284 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.83, for a total value of $73,077.72. Following the completion of the sale, the chief accounting officer owned 300,570 shares of the company’s stock, valued at $4,156,883.10. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 23,661 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $13.30, for a total value of $314,691.30. Following the transaction, the insider owned 696,850 shares of the company’s stock, valued at $9,268,105. This trade represents a 3.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 31,038 shares of company stock valued at $416,841. Company insiders own 3.07% of the company’s stock.
Institutional Investors Weigh In On Lyft
Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in Lyft by 7.4% in the third quarter. AQR Capital Management LLC now owns 25,783,363 shares of the ride-sharing company’s stock worth $567,492,000 after purchasing an additional 1,773,438 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Lyft by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 9,873,232 shares of the ride-sharing company’s stock valued at $191,245,000 after purchasing an additional 1,320,938 shares during the period. Norges Bank bought a new position in shares of Lyft in the fourth quarter worth about $109,987,000. Swedbank AB bought a new position in shares of Lyft in the fourth quarter worth about $108,472,000. Finally, Marshall Wace LLP increased its stake in Lyft by 75.7% in the 2nd quarter. Marshall Wace LLP now owns 5,464,934 shares of the ride-sharing company’s stock worth $86,127,000 after buying an additional 2,353,769 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
Key Lyft News
Here are the key news stories impacting Lyft this week:
- Positive Sentiment: Southwest Airlines cardholders can now earn bonus Rapid Rewards points on Lyft rides — this partnership may modestly boost demand and customer acquisition via a loyalty channel. Southwest Airlines cardholders now eligible to earn bonus points on Lyft
- Positive Sentiment: Investment write-ups highlight Lyft’s attractive free-cash-flow yield and robotaxi/partnership upside (e.g., Waymo launches), arguing margins and international expansion could drive longer-term upside. Lyft: Huge Bottom Line Growth With Robotaxi Upside Make It Attractive
- Neutral Sentiment: Local promotions (e.g., half-off rides from Comerica Park on Tigers Opening Day) could lift short-term trips in specific markets but have limited company-wide impact. Tigers Opening Day rides: Get half-off Lyft rides home from Comerica Park on Friday
- Neutral Sentiment: Seasonal/tax guidance for gig workers is industry-wide and unlikely to change Lyft’s near-term stock trajectory materially. Drive for Uber, Lyft? Clock ticks for gig workers to file tax returns
- Negative Sentiment: Rising fuel costs are squeezing driver economics — local reports (St. Louis) and national coverage show higher pump prices are forcing some drivers to cut hours or quit, which could reduce supply, raise costs, and pressure margins. Gas Shock as St. Louis Cabbies and Lyft Drivers Get Squeezed as Prices Blow Past $4
- Negative Sentiment: National coverage documents drivers at the brink of quitting due to fuel inflation — a meaningful operational headwind if driver supply tightens broadly. ‘I’m done’: Rideshare drivers on the brink of quitting over higher gas prices
- Negative Sentiment: Safety/PR hit: a high-profile incident where a toddler was accidentally driven away in a Lyft trip has attracted local media and police attention — could prompt regulatory scrutiny, higher insurance/legal costs, and short-term reputational damage. Winter Haven Lyft trip ends in chaos as toddler is accidentally driven away
- Negative Sentiment: Analyst pessimism: JPMorgan lowered its price target (from $19 to $17) and Truist cut its target to $15 while keeping Hold ratings — these cuts reflect near-term concerns (fuel, integration of Freenow, winter disruption) and weigh on investor sentiment. Analyst price target cuts
- Negative Sentiment: Legal/regulatory risk: Lyft is litigating liability-shield limits in Florida’s appeals court — ongoing legal fights create potential downside from damages or tighter regulation. Lyft Pushes Limits of Liability Shield in Florida Appeals Court
About Lyft
Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.
Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.
Recommended Stories
Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.
