Lyft (NASDAQ:LYFT) Stock Price Down 2.8%

Lyft, Inc. (NASDAQ:LYFT) fell 2.8% on Monday . The company traded as low as $15.90 and last traded at $15.91. 964,503 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 16,276,851 shares. The stock had previously closed at $16.37.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYFT. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price target (up from $14.00) on shares of Lyft in a research note on Wednesday, February 14th. Wells Fargo & Company increased their target price on shares of Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, April 8th. BMO Capital Markets assumed coverage on shares of Lyft in a research report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group downgraded shares of Lyft from a “buy” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $15.00 in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.60.

Lyft Trading Down 0.2 %

The company has a market cap of $6.53 billion, a price-to-earnings ratio of -18.31 and a beta of 1.97. The company’s fifty day moving average price is $17.74 and its two-hundred day moving average price is $14.28. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Research analysts expect that Lyft, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other Lyft news, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now directly owns 633,950 shares of the company’s stock, valued at $9,521,929. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the sale, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $16.06, for a total value of $290,123.90. Following the transaction, the chief accounting officer now directly owns 255,817 shares of the company’s stock, valued at $4,108,421.02. The disclosure for this sale can be found here. Insiders have sold 270,526 shares of company stock valued at $5,195,771 in the last 90 days. 3.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Lyft during the 4th quarter worth approximately $94,687,000. Kodai Capital Management LP acquired a new position in shares of Lyft during the 4th quarter worth approximately $26,069,000. Bank of Nova Scotia acquired a new position in shares of Lyft during the 4th quarter worth approximately $21,433,000. Vanguard Group Inc. increased its holdings in shares of Lyft by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after acquiring an additional 1,135,036 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Lyft by 126.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after acquiring an additional 1,080,009 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

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.