Lyft’s (LYFT) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of Lyft (NASDAQ:LYFT) in a report released on Thursday morning,RTT News reports. The brokerage currently has a $20.00 price target on the ride-sharing company’s stock, up from their prior price target of $12.00.

LYFT has been the subject of a number of other reports. TD Cowen reduced their price objective on shares of Lyft from $18.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. UBS Group increased their price target on shares of Lyft from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Loop Capital reduced their price target on shares of Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Barclays reduced their price target on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, BMO Capital Markets reduced their price target on shares of Lyft from $19.00 to $13.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.23.

Lyft Trading Up 0.5 %

LYFT stock traded up $0.09 during mid-day trading on Thursday, reaching $17.78. 28,925,410 shares of the stock traded hands, compared to its average volume of 13,179,118. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a market cap of $7.29 billion, a P/E ratio of -111.13 and a beta of 2.04. The stock’s fifty day moving average is $12.96 and its 200-day moving average is $13.54.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm earned ($0.14) earnings per share. The business’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, sell-side analysts expect that Lyft will post -0.06 earnings per share for the current year.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now owns 764,332 shares in the company, valued at approximately $8,988,544.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,664 shares of company stock worth $380,048. Insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank lifted its position in Lyft by 2.0% in the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after purchasing an additional 13,300 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Lyft in the first quarter worth $41,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Lyft by 430.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock worth $75,000 after purchasing an additional 3,154 shares during the period. CWM LLC lifted its position in Lyft by 26.4% in the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after purchasing an additional 1,457 shares during the period. Finally, Comerica Bank lifted its position in Lyft by 310.3% in the first quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock worth $1,985,000 after purchasing an additional 77,578 shares during the period. 83.07% of the stock is owned by institutional investors.

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.