Lyft (NASDAQ:LYFT) Price Target Raised to $24.00

Lyft (NASDAQ:LYFTFree Report) had its price objective upped by Tigress Financial from $22.00 to $24.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

LYFT has been the subject of a number of other reports. The Goldman Sachs Group lowered shares of Lyft from a buy rating to a neutral rating and boosted their price target for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. Argus upgraded shares of Lyft from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Tuesday, March 5th. UBS Group boosted their price target on shares of Lyft from $13.00 to $14.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Wedbush reaffirmed a neutral rating and set a $15.00 price objective (up from $14.00) on shares of Lyft in a report on Wednesday, February 14th. Finally, Barclays lifted their price objective on shares of Lyft from $14.00 to $17.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $14.60.

Check Out Our Latest Research Report on LYFT

Lyft Stock Down 3.4 %

Lyft stock opened at $16.15 on Thursday. Lyft has a 1-year low of $7.85 and a 1-year high of $20.82. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of -18.15 and a beta of 1.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The firm has a 50 day simple moving average of $17.65 and a 200 day simple moving average of $14.08.

Lyft (NASDAQ:LYFTGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. On average, analysts predict that Lyft will post -0.35 earnings per share for the current year.

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the transaction, the chief accounting officer now directly owns 255,817 shares of the company’s stock, valued at $4,108,421.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the transaction, the chief accounting officer now directly owns 255,817 shares of the company’s stock, valued at $4,108,421.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the transaction, the president now directly owns 633,950 shares of the company’s stock, valued at $9,521,929. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,526 shares of company stock valued at $5,195,771. Insiders own 3.16% of the company’s stock.

Hedge Funds Weigh In On Lyft

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 1,672 shares in the last quarter. a16z Perennial Management L.P. bought a new position in Lyft in the fourth quarter worth about $34,000. Kapitalo Investimentos Ltda bought a new position in Lyft in the fourth quarter worth about $34,000. BluePath Capital Management LLC bought a new position in Lyft in the third quarter worth about $35,000. Finally, Gables Capital Management Inc. raised its stake in Lyft by 129.0% in the third quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 2,000 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

About Lyft

(Get Free Report)

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.

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