Lyft (NASDAQ:LYFT) PT Raised to $18.00 at Wedbush

Lyft (NASDAQ:LYFT) had its price objective boosted by equities research analysts at Wedbush from $15.00 to $18.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the ride-sharing company’s stock. Wedbush’s price target suggests a potential upside of 3.39% from the company’s previous close.

LYFT has been the topic of a number of other research reports. UBS Group lifted their price target on shares of Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. TD Cowen upped their target price on shares of Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a research note on Monday, January 22nd. Citigroup increased their price target on shares of Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Barclays lifted their price objective on Lyft from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Morgan Stanley increased their target price on Lyft from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.86.

Lyft Stock Performance

NASDAQ LYFT traded up $0.81 during midday trading on Wednesday, hitting $17.41. The company had a trading volume of 21,327,296 shares, compared to its average volume of 16,388,465. The firm has a fifty day simple moving average of $17.75 and a two-hundred day simple moving average of $14.58. Lyft has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of -20.31 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Equities analysts forecast that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the sale, the director now owns 932,544 shares in the company, valued at approximately $18,688,181.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the transaction, the president now owns 60,778 shares of the company’s stock, valued at $1,063,615. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 193,200 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the transaction, the director now owns 932,544 shares of the company’s stock, valued at $18,688,181.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 280,526 shares of company stock worth $5,358,031. Company insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC raised its holdings in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Allworth Financial LP raised its stake in Lyft by 685.2% during the 4th 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 during the period. a16z Perennial Management L.P. bought a new position in Lyft during the fourth quarter worth about $34,000. Kapitalo Investimentos Ltda bought a new position in Lyft during the fourth quarter worth about $34,000. Finally, Gables Capital Management Inc. grew 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 valued at $37,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

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.