Wipfli Financial Advisors LLC bought a new position in Lyft, Inc. (NASDAQ:LYFT – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,988 shares of the ride-sharing company’s stock, valued at approximately $26,000.
Other hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC increased its holdings in shares of Lyft by 58.9% in the 2nd quarter. Clearstead Advisors LLC now owns 1,845 shares of the ride-sharing company’s stock valued at $25,000 after purchasing an additional 684 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Lyft by 261.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,344 shares of the ride-sharing company’s stock valued at $31,000 after purchasing an additional 1,696 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in shares of Lyft in the 2nd quarter valued at about $35,000. Activest Wealth Management increased its holdings in shares of Lyft by 139.9% in the 2nd quarter. Activest Wealth Management now owns 2,744 shares of the ride-sharing company’s stock valued at $36,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Castleview Partners LLC increased its holdings in shares of Lyft by 1,228.0% in the 2nd quarter. Castleview Partners LLC now owns 664 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 614 shares in the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on LYFT shares. JPMorgan Chase & Co. cut their price target on shares of Lyft from $36.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, November 8th. Argus dropped their target price on shares of Lyft from $41.00 to $17.00 in a report on Friday, November 25th. Wedbush dropped their target price on shares of Lyft from $25.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, November 8th. The Goldman Sachs Group dropped their target price on shares of Lyft to $20.00 in a report on Tuesday, November 15th. Finally, Credit Suisse Group dropped their target price on shares of Lyft from $46.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus price target of $23.46.
Lyft Stock Performance
Lyft (NASDAQ:LYFT – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The ride-sharing company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.14). Lyft had a negative net margin of 32.26% and a negative return on equity of 54.39%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. As a group, equities analysts anticipate that Lyft, Inc. will post -1.82 earnings per share for the current year.
Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.
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