Lyft (NASDAQ:LYFT) Stock Price Target Cut by Rosenblatt Securities

Lyft (NASDAQ:LYFT) had its price target cut by equities research analysts at Rosenblatt Securities from $19.00 to $18.00 in a research note issued to investors on Friday, Marketbeat reports. The firm currently has a “neutral” rating on the ride-sharing company’s stock. Rosenblatt Securities‘s target price would suggest a potential upside of 5.32% from the stock’s current price.

Several other brokerages have also recently weighed in on LYFT. Piper Sandler reaffirmed an “overweight” rating and set a $21.00 target price (up from $20.00) on shares of Lyft in a research note on Friday, August 7th. UBS Group increased their price target on shares of Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada restated an “outperform” rating and set a $20.00 price target on shares of Lyft in a report on Tuesday, August 18th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Lyft in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.00.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $17.09 on Friday. The company has a market cap of $6.47 billion, a P/E ratio of 2.54, a P/E/G ratio of 1.06 and a beta of 2.06. Lyft has a 52 week low of $12.46 and a 52 week high of $25.54. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $16.20 and a 200-day simple moving average of $15.13.

Lyft (NASDAQ:LYFT) last issued its earnings results on Thursday, November 5th. The ride-sharing company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.23). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Lyft had a return on equity of 1.24% and a net margin of 40.67%. Lyft’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS. Equities research analysts forecast that Lyft will post 0.81 EPS for the current year.

Insider Activity at Lyft

In other Lyft news, Director Jill Beggs sold 2,307 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $17.34, for a total transaction of $40,003.38. Following the transaction, the director owned 46,238 shares of the company’s stock, valued at $801,766.92. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,982 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.34, for a total value of $103,727.88. Following the completion of the sale, the chief accounting officer owned 299,974 shares in the company, valued at approximately $5,201,549.16. This trade represents a 1.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 61,586 shares of company stock worth $1,024,326. Insiders own 0.92% of the company’s stock.

Institutional Trading of Lyft

Institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd boosted its holdings in Lyft by 51.6% during the 1st quarter. Altshuler Shaham Ltd now owns 7,662,027 shares of the ride-sharing company’s stock worth $101,905,000 after acquiring an additional 2,607,417 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Lyft by 58.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after acquiring an additional 2,467,010 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Lyft by 250.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company’s stock worth $56,479,000 after acquiring an additional 3,033,333 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Lyft by 62.2% in the first quarter. Pacer Advisors Inc. now owns 3,189,313 shares of the ride-sharing company’s stock valued at $42,418,000 after purchasing an additional 1,223,536 shares during the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of Lyft in the second quarter valued at about $36,926,000. Institutional investors own 83.07% of the company’s stock.

Lyft News Summary

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft reported record rides and gross bookings for Q3, with coverage also highlighting stronger adjusted EBITDA. The CEO said rider growth has remained in double digits for eight consecutive quarters. Lyft reports record rides and gross bookings
• Positive Sentiment: Lyft launched Lyft Go, a $9.99 monthly membership bundling DoorDash DashPass with ride credits. The offering could encourage customer retention and increase use across both services. Lyft debuts joint membership with DoorDash
• Positive Sentiment: Lyft is expanding its Waymo robotaxi fleet in Nashville, while CEO David Risher said autonomous vehicles are not hurting the company’s business. Partnerships may let Lyft participate in autonomous rides without building its own fleet. Lyft to expand Waymo robotaxi fleet
• Neutral Sentiment: Truist raised its price target to $18 from $16 but kept a Hold rating, suggesting limited near-term conviction despite the higher valuation estimate. Truist rating and target
• Negative Sentiment: Q3 results disappointed on reported figures: Lyft posted a $0.03-per-share loss and $1.82 billion in revenue, below cited consensus estimates. Legal, tax, and regulatory reserve changes and settlements—including a reported $117.9 million charge—dented results, although some coverage emphasized stronger adjusted performance. Lyft posts surprise loss on settlement
• Negative Sentiment: Analysts flagged slowing growth and execution risks. Scotiabank cut its target to $16 from $17, and Rosenblatt lowered its target to $18 from $19; both maintained cautious ratings. Analyst commentary on Lyft

Lyft Company Profile

Lyft, Inc is a technology company that operates a transportation network platform in the United States and Canada. Its platform connects passengers with drivers through a mobile application and website, primarily offering on-demand rides in private vehicles, taxis and other transportation options.

The company also provides access to bicycles and scooters in select markets, as well as vehicle rentals and transportation solutions for businesses, healthcare organizations and other institutions.