Lyft (NASDAQ:LYFT) Price Target Raised to $13.00

Lyft (NASDAQ:LYFT) had its target price increased by Morgan Stanley from $12.00 to $13.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the ride-sharing company’s stock. Morgan Stanley’s target price points to a potential downside of 25.03% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Tigress Financial upped their target price on shares of Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, March 5th. UBS Group lifted their price objective on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. BMO Capital Markets started coverage on Lyft in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $15.00 price target for the company. Finally, The Goldman Sachs Group downgraded shares of Lyft from a “buy” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.16.

Lyft Trading Up 0.8 %

LYFT traded up $0.14 during trading on Monday, hitting $17.34. 9,628,666 shares of the stock traded hands, compared to its average volume of 16,179,428. The firm has a market capitalization of $6.93 billion, a P/E ratio of -19.61 and a beta of 2.05. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50-day moving average of $17.72 and a 200 day moving average of $14.48.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Equities research analysts anticipate that Lyft will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 193,200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the transaction, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the transaction, the president now owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Insiders have sold a total of 280,526 shares of company stock valued at $5,358,031 in the last quarter. 3.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lyft

Several hedge funds have recently bought and sold shares of LYFT. GAMMA Investing LLC lifted its holdings in shares of Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after buying an additional 664 shares during the period. Commerce Bank lifted its stake in shares of Lyft by 2.9% during the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock worth $414,000 after purchasing an additional 782 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Lyft by 21.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock worth $68,000 after purchasing an additional 814 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Lyft by 15.4% during the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after purchasing an additional 1,093 shares during the last quarter. 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.