Lyft (NASDAQ:LYFT) Price Target Raised to $18.00

Lyft (NASDAQ:LYFT) had its price target raised by Susquehanna from $10.00 to $18.00 in a research report report published on Monday,Benzinga reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

Other analysts have also issued reports about the stock. Wolfe Research began coverage on shares of Lyft in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Benchmark reiterated a “hold” rating on shares of Lyft in a research report on Thursday, November 7th. Evercore ISI upped their target price on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a report on Friday, October 18th. Finally, Melius Research initiated coverage on shares of Lyft in a report on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective for the company. Twenty-eight equities research 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. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $17.48.

Lyft Price Performance

Shares of Lyft stock opened at $17.78 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft has a one year low of $8.93 and a one year high of $20.82. The business’s 50 day simple moving average is $13.23 and its two-hundred day simple moving average is $13.52. The stock has a market capitalization of $7.29 billion, a P/E ratio of -111.13, a price-to-earnings-growth ratio of 6.61 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. Analysts forecast that Lyft will post 0.06 EPS for the current year.

Insider Buying and Selling at Lyft

In other news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now directly owns 932,062 shares of the company’s stock, valued at $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Logan Green sold 10,323 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares of the company’s stock, valued at $10,625,506.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,987 shares of company stock worth $619,025. Insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Lyft in the second quarter worth approximately $35,000. Brown Brothers Harriman & Co. purchased a new position in shares of Lyft during the 2nd quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lyft during the 3rd quarter valued at $38,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lyft in the 1st quarter worth $41,000. Finally, Quarry LP raised its holdings in Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after purchasing an additional 3,468 shares during the period. 83.07% of the stock is currently owned by 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.