Lyft (NASDAQ:LYFT) had its price objective reduced by equities research analysts at Cowen from $80.00 to $70.00 in a report released on Monday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the ride-sharing company’s stock. Cowen’s price objective suggests a potential upside of 81.68% from the stock’s previous close.
A number of other research firms have also recently commented on LYFT. UBS Group raised shares of Lyft from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 20th. Loop Capital cut their price objective on shares of Lyft from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 24th. They noted that the move was a valuation call. Wedbush cut their price objective on shares of Lyft from $85.00 to $77.00 and set an “outperform” rating for the company in a research note on Wednesday, November 3rd. Citigroup upped their price objective on shares of Lyft from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 3rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada cut their price objective on shares of Lyft from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, October 14th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $69.66.
Lyft stock traded up $2.78 during midday trading on Monday, reaching $38.53. 421,241 shares of the stock were exchanged, compared to its average volume of 6,022,032. The company’s fifty day moving average is $41.08 and its 200-day moving average is $47.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $13.13 billion, a PE ratio of -10.31 and a beta of 1.92. Lyft has a 52 week low of $33.94 and a 52 week high of $68.28.
Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, November 2nd. The ride-sharing company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.61. Lyft had a negative net margin of 43.05% and a negative return on equity of 68.30%. The business had revenue of $864.41 million during the quarter, compared to analysts’ expectations of $860.24 million. During the same quarter in the previous year, the company earned ($1.44) EPS. On average, sell-side analysts anticipate that Lyft will post -2.48 earnings per share for the current fiscal year.
In other news, insider Kristin Sverchek sold 8,858 shares of the firm’s stock in a transaction dated Friday, November 26th. The shares were sold at an average price of $40.90, for a total transaction of $362,292.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Agnes Wilderotter sold 2,860 shares of the firm’s stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $52.84, for a total transaction of $151,122.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,128 shares of company stock valued at $1,110,328. 5.77% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of LYFT. Vanguard Group Inc. raised its stake in Lyft by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 22,626,991 shares of the ride-sharing company’s stock worth $1,368,480,000 after acquiring an additional 644,051 shares during the period. Jackson Square Partners LLC raised its stake in Lyft by 10.3% during the 2nd quarter. Jackson Square Partners LLC now owns 7,148,228 shares of the ride-sharing company’s stock worth $432,324,000 after acquiring an additional 669,481 shares during the period. Bank of New York Mellon Corp raised its stake in Lyft by 7.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,588,945 shares of the ride-sharing company’s stock worth $353,102,000 after acquiring an additional 484,642 shares during the period. Primecap Management Co. CA raised its stake in Lyft by 15.2% during the 3rd quarter. Primecap Management Co. CA now owns 4,842,341 shares of the ride-sharing company’s stock worth $259,501,000 after acquiring an additional 640,410 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in Lyft by 2.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,200,749 shares of the ride-sharing company’s stock worth $225,118,000 after acquiring an additional 115,438 shares during the period. 78.59% of the stock is currently owned by institutional investors.
About Lyft
Lyft, Inc engages in the provision and management of online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.