Lyft (NASDAQ:LYFT) Price Target Cut to $14.50 by Analysts at DA Davidson

Lyft (NASDAQ:LYFT) had its price target reduced by stock analysts at DA Davidson from $19.00 to $14.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. DA Davidson’s price objective indicates a potential upside of 8.17% from the company’s previous close.

A number of other brokerages have also commented on LYFT. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research report on Wednesday, February 11th. Cantor Fitzgerald decreased their price objective on Lyft from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Oppenheimer set a $20.00 price objective on Lyft in a research report on Friday, May 8th. Susquehanna reiterated a “neutral” rating and issued a $15.00 price objective on shares of Lyft in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada decreased their price objective on Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.13.

Lyft Trading Up 3.4%

LYFT traded up $0.44 during mid-day trading on Monday, reaching $13.41. The stock had a trading volume of 8,127,284 shares, compared to its average volume of 16,296,128. The stock has a market capitalization of $5.09 billion, a P/E ratio of 1.96, a P/E/G ratio of 0.80 and a beta of 1.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. The firm’s fifty day simple moving average is $13.69 and its two-hundred day simple moving average is $16.94. Lyft has a 52 week low of $12.46 and a 52 week high of $25.54.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 earnings per share. On average, equities analysts predict that Lyft will post 0.66 EPS for the current year.

Lyft declared that its board has initiated a stock buyback program on Tuesday, February 10th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 15.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Lyft

In other news, CAO Stephen W. Hope sold 5,284 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $13.83, for a total value of $73,077.72. Following the transaction, the chief accounting officer directly owned 300,570 shares in the company, valued at $4,156,883.10. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 23,661 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $13.30, for a total value of $314,691.30. Following the completion of the transaction, the insider owned 696,850 shares in the company, valued at $9,268,105. This represents a 3.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,699 shares of company stock worth $771,756 in the last three months. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LYFT. University of Texas Texas AM Investment Management Co. bought a new position in Lyft during the fourth quarter worth about $26,000. Boreal Capital Management LLC bought a new position in Lyft during the first quarter worth about $31,000. Bessemer Group Inc. lifted its holdings in Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares in the last quarter. International Assets Investment Management LLC bought a new position in Lyft during the fourth quarter worth about $40,000. Finally, Huntington National Bank lifted its holdings in Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 1,374 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.