Traders Buy Large Volume of Lyft Call Options (NASDAQ:LYFT)

Lyft, Inc. (NASDAQ:LYFTGet Rating) was the target of some unusual options trading on Friday. Investors purchased 80,571 call options on the stock. This represents an increase of 72% compared to the typical daily volume of 46,919 call options.

Lyft Price Performance

LYFT stock opened at $20.28 on Friday. The firm has a 50 day moving average of $14.89 and a 200-day moving average of $27.17. Lyft has a 12-month low of $11.96 and a 12-month high of $57.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68. The company has a market cap of $7.07 billion, a price-to-earnings ratio of -8.86 and a beta of 1.82.

Lyft (NASDAQ:LYFTGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18. Lyft had a negative net margin of 22.42% and a negative return on equity of 50.06%. The company had revenue of $990.70 million during the quarter, compared to the consensus estimate of $988.14 million. During the same period last year, the firm earned ($0.68) EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. As a group, equities analysts expect that Lyft will post -1.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays reduced their price objective on Lyft from $32.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Friday. Argus dropped their target price on Lyft from $72.00 to $41.00 in a report on Monday, May 16th. Sanford C. Bernstein began coverage on Lyft in a report on Tuesday, May 24th. They issued a “market perform” rating and a $22.00 target price on the stock. Truist Financial dropped their target price on Lyft from $58.00 to $50.00 in a report on Wednesday, May 4th. Finally, Stifel Nicolaus increased their target price on Lyft from $18.00 to $19.00 in a report on Friday. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Lyft presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.57.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. MCF Advisors LLC purchased a new position in shares of Lyft during the 1st quarter worth approximately $25,000. Rockbridge Investment Management LCC increased its stake in shares of Lyft by 95.6% during the 4th quarter. Rockbridge Investment Management LCC now owns 671 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 328 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Lyft during the 1st quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Lyft by 206.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,067 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 719 shares in the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Lyft during the 1st quarter worth approximately $44,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Lyft Company Profile

(Get Rating)

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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