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

Cantor Fitzgerald reiterated their neutral rating on shares of Lyft (NASDAQ:LYFT) in a research report report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $13.00 price objective on the ride-sharing company’s stock.

Several other equities analysts have also recently weighed in on LYFT. Citigroup lowered their price target on Lyft from $18.00 to $10.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Raymond James assumed coverage on Lyft in a research report on Tuesday, September 24th. They issued a market perform rating on the stock. JPMorgan Chase & Co. cut their price target on Lyft from $18.00 to $15.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of Lyft from $24.00 to $17.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their target price on shares of Lyft from $17.00 to $12.00 and set an equal weight rating for the company in a report on Thursday, August 8th. Twenty-six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $15.65.

Lyft Trading Down 1.4 %

Shares of NASDAQ:LYFT opened at $12.36 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. Lyft has a 1 year low of $8.85 and a 1 year high of $20.82. The company has a market cap of $4.99 billion, a P/E ratio of -26.30 and a beta of 2.04. The stock’s fifty day moving average price is $11.58 and its 200-day moving average price is $14.39.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) earnings per share. Sell-side analysts expect that Lyft will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now directly owns 929,638 shares in the company, 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 over the last 90 days. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Lyft by 4.4% during the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after buying an additional 993 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in shares of 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 buying an additional 1,000 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Lyft by 9.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after acquiring an additional 1,160 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Lyft by 6.1% during the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after acquiring an additional 1,437 shares during the period. 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.