LYFT (NASDAQ:LYFT)‘s stock had its “buy” rating reaffirmed by analysts at Credit Suisse Group in a report released on Thursday, AnalystRatings.com reports. They presently have a $96.00 price target on the ride-sharing company’s stock. Credit Suisse Group’s price objective points to a potential upside of 98.10% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Barclays reduced their price objective on shares of LYFT from $63.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Co raised their price objective on shares of LYFT from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein began coverage on shares of LYFT in a research note on Thursday, January 9th. They issued a “market perform” rating and a $48.00 price objective on the stock. Stifel Nicolaus reduced their price objective on shares of LYFT from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Cowen reaffirmed an “outperform” rating and issued a $74.00 price objective (down from $78.00) on shares of LYFT in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have given a buy rating to the company. LYFT currently has an average rating of “Buy” and an average price target of $65.55.
Shares of LYFT stock opened at $48.46 on Thursday. LYFT has a 52-week low of $37.07 and a 52-week high of $88.60. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average price is $46.86 and its two-hundred day moving average price is $47.10.
LYFT (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $984.49 million. As a group, sell-side analysts expect that LYFT will post -10.41 earnings per share for the current fiscal year.
In related news, Director Mary Agnes Wilderotter sold 1,663 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $52.49, for a total transaction of $87,290.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kristin Sverchek sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $47.51, for a total transaction of $71,265.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,072 shares of company stock worth $7,950,163.
Several large investors have recently modified their holdings of the stock. Surevest Inc. increased its stake in LYFT by 21.6% in the 4th quarter. Surevest Inc. now owns 21,366 shares of the ride-sharing company’s stock valued at $919,000 after buying an additional 3,793 shares during the last quarter. State Street Corp increased its stake in LYFT by 104.3% in the 3rd quarter. State Street Corp now owns 1,629,130 shares of the ride-sharing company’s stock valued at $66,534,000 after buying an additional 831,600 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in LYFT in the 3rd quarter valued at $40,000. Man Group plc increased its stake in LYFT by 748.2% in the 3rd quarter. Man Group plc now owns 129,080 shares of the ride-sharing company’s stock valued at $5,271,000 after buying an additional 113,861 shares during the last quarter. Finally, Price Wealth LLC acquired a new stake in LYFT in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 44.44% 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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