BMO Capital Markets Raises Lyft (NASDAQ:LYFT) Price Target to $18.00

Lyft (NASDAQ:LYFT) had its price target lifted by stock analysts at BMO Capital Markets from $15.00 to $18.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the ride-sharing company’s stock. BMO Capital Markets’ price objective points to a potential upside of 2.45% from the company’s current price.

Several other equities analysts have also weighed in on LYFT. Citigroup lifted their price target on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. UBS Group upped their price objective on shares of Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Wells Fargo & Company boosted their target price on Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, April 8th. Royal Bank of Canada raised shares of Lyft from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $17.00 to $23.00 in a report on Monday, March 4th. Finally, TD Cowen upped their price objective on Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Lyft has a consensus rating of “Hold” and an average price target of $15.86.

Lyft Trading Up 5.8 %

NASDAQ LYFT traded up $0.97 during trading on Wednesday, hitting $17.57. The company had a trading volume of 19,715,340 shares, compared to its average volume of 16,374,242. The company’s fifty day moving average is $17.75 and its 200-day moving average is $14.58. The company has a market cap of $7.02 billion, a price-to-earnings ratio of -20.31 and a beta of 2.05. Lyft has a one year low of $7.85 and a one year high of $20.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

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

Insider Activity

In other news, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were 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 owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, 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 value of $85,163.40. Following the sale, the president now directly owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,526 shares of company stock worth $5,358,031. 3.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC boosted its position in Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the period. Allworth Financial LP boosted its position in shares of Lyft by 685.2% during the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing 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 $34,000. Kapitalo Investimentos Ltda bought a new stake in Lyft in the fourth quarter worth $34,000. Finally, Gables Capital Management Inc. increased its holdings in Lyft by 129.0% in the 3rd 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. 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.