LYFT (NASDAQ:LYFT)‘s stock had its “hold” rating reiterated by investment analysts at KeyCorp in a report issued on Monday, TipRanks reports.
Several other analysts have also recently weighed in on the company. Evercore ISI started coverage on LYFT in a research report on Wednesday, June 12th. They set an “outperform” rating and a $74.00 price objective on the stock. JPMorgan Chase & Co. set a $90.00 target price on LYFT and gave the company a “buy” rating in a research note on Friday, August 23rd. Macquarie started coverage on LYFT in a research note on Tuesday, June 4th. They issued an “outperform” rating for the company. DA Davidson set a $72.00 price objective on LYFT and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Citigroup raised their price objective on LYFT from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.28.
Shares of NASDAQ:LYFT traded up $1.08 on Monday, hitting $46.53. The company had a trading volume of 12,900,963 shares, compared to its average volume of 6,669,282. The stock’s 50-day moving average is $54.23. LYFT has a 1 year low of $43.41 and a 1 year high of $88.60. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.09.
LYFT (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 7th. The ride-sharing company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.66) by $0.98. The company had revenue of $867.30 million for the quarter, compared to the consensus estimate of $809.64 million. The firm’s revenue for the quarter was up 71.8% on a year-over-year basis. Equities analysts forecast that LYFT will post -11.38 EPS for the current fiscal year.
In other LYFT news, EVP Ran I. Makavy sold 70,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $52.11, for a total value of $3,647,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Kristin Sverchek sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $47.97, for a total value of $287,820.00. Following the completion of the transaction, the general counsel now directly owns 206,969 shares in the company, valued at $9,928,302.93. The disclosure for this sale can be found here.
Institutional investors have recently added to or reduced their stakes in the business. Atria Investments LLC purchased a new stake in shares of LYFT during the 2nd quarter valued at about $205,000. Treasurer of the State of North Carolina bought a new stake in LYFT during the second quarter valued at approximately $1,034,000. NewSquare Capital LLC bought a new stake in LYFT during the second quarter valued at approximately $69,000. Primecap Management Co. CA increased its holdings in LYFT by 66.2% during the second quarter. Primecap Management Co. CA now owns 830,800 shares of the ride-sharing company’s stock valued at $54,592,000 after buying an additional 330,800 shares during the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in LYFT during the second quarter valued at approximately $18,858,000. Institutional investors and hedge funds own 34.61% of the company’s stock.
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.
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