Lyft (NASDAQ:LYFT) Price Target Increased to $24.00 by Analysts at Tigress Financial

Lyft (NASDAQ:LYFT) had its target price increased by Tigress Financial from $22.00 to $24.00 in a report published on Thursday, Benzinga reports. Tigress Financial currently has a buy rating on the ride-sharing company’s stock.

LYFT has been the topic of several other reports. Barclays boosted their target price on shares of Lyft from $14.00 to $17.00 and gave the company an equal weight rating in a report on Thursday, February 15th. UBS Group boosted 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. Truist Financial raised their price objective on shares of Lyft from $13.00 to $15.00 and gave the company a hold rating in a research note on Wednesday, February 14th. Piper Sandler increased their target price on shares of Lyft from $17.00 to $22.00 and gave the stock an overweight rating in a report on Friday, March 15th. Finally, Argus upgraded shares of Lyft from a hold rating to a buy rating and set a $20.00 price target for the company in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lyft presently has an average rating of Hold and a consensus price target of $14.60.

Lyft Price Performance

NASDAQ:LYFT opened at $16.71 on Thursday. The stock has a 50 day moving average of $17.58 and a two-hundred day moving average of $13.99. Lyft has a 12 month low of $7.85 and a 12 month 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 issued its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate 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%. Analysts expect that Lyft will post -0.35 EPS for the current fiscal year.

Insider Transactions at Lyft

In related news, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lyft news, Director Logan Green sold 11,867 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $15.69, for a total value of $186,193.23. Following the sale, the director now owns 346,341 shares of the company’s stock, valued at $5,434,090.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now directly owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The disclosure for this sale can be found here. Over the last quarter, insiders sold 270,526 shares of company stock worth $5,195,771. Company insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Lyft in the 1st quarter valued at about $41,000. TB Alternative Assets Ltd. grew its stake in Lyft by 62.1% in the 1st quarter. TB Alternative Assets Ltd. now owns 529,300 shares of the ride-sharing company’s stock worth $10,242,000 after acquiring an additional 202,700 shares during the period. Range Financial Group LLC purchased a new stake in Lyft in the 1st quarter worth approximately $470,000. GAMMA Investing LLC raised its holdings in Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after acquiring an additional 664 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Lyft in the 4th quarter worth about $34,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.