Lyft (NASDAQ:LYFT) Reaches New 1-Year Low at $13.81

Lyft, Inc. (NASDAQ:LYFTGet Rating)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $13.81 and last traded at $13.81, with a volume of 438586 shares changing hands. The stock had previously closed at $15.16.

Several equities analysts have commented on LYFT shares. Royal Bank of Canada cut their price objective on Lyft from $50.00 to $42.00 in a research report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Lyft from $43.00 to $28.00 in a research report on Wednesday, May 4th. Sanford C. Bernstein assumed coverage on Lyft in a research report on Tuesday, May 24th. They set a “market perform” rating and a $22.00 price target on the stock. Truist Financial dropped their price target on Lyft from $58.00 to $50.00 in a research report on Wednesday, May 4th. Finally, Wedbush dropped their price target on Lyft from $50.00 to $32.00 in a research report on Wednesday, May 4th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $46.00.

The stock has a market capitalization of $5.19 billion, a PE ratio of -6.50 and a beta of 1.84. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $23.23 and a 200-day moving average price of $33.83.

Lyft (NASDAQ:LYFTGet Rating) last posted its earnings results on Tuesday, May 3rd. The ride-sharing company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.21. The firm had revenue of $875.60 million for the quarter, compared to analyst estimates of $845.91 million. Lyft had a negative return on equity of 50.06% and a negative net margin of 22.42%. Lyft’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period last year, the company earned ($0.86) earnings per share. Equities analysts expect that Lyft, Inc. will post -1.87 earnings per share for the current fiscal year.

In other Lyft news, insider Kristin Sverchek sold 3,938 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $40.00, for a total value of $157,520.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.77% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in LYFT. Amundi Pioneer Asset Management Inc. purchased a new stake in Lyft in the first quarter valued at $39,000. MCF Advisors LLC purchased a new stake in Lyft in the first quarter valued at $25,000. Rockbridge Investment Management LCC raised its position in Lyft by 95.6% in the fourth quarter. Rockbridge Investment Management LCC now owns 671 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 328 shares during the period. Elequin Capital LP purchased a new stake in Lyft in the first quarter valued at $26,000. Finally, Concord Wealth Partners raised its position in Lyft by 64.2% in the fourth quarter. Concord Wealth Partners now owns 962 shares of the ride-sharing company’s stock valued at $41,000 after purchasing an additional 376 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

About Lyft (NASDAQ:LYFT)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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