Lyft (NASDAQ:LYFT) PT Raised to $16.00

Lyft (NASDAQ:LYFT) had its price objective lifted by stock analysts at TD Cowen from $14.00 to $16.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the ride-sharing company’s stock. TD Cowen’s price target points to a potential downside of 7.19% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Piper Sandler boosted their target price on shares of Lyft from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday. Wedbush boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group cut shares of Lyft from a “buy” rating to a “neutral” rating and lifted their price target for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. Citigroup upped their price objective on shares of Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, BMO Capital Markets lifted their target price on Lyft from $15.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.70.

Lyft Stock Down 3.0 %

Shares of NASDAQ LYFT opened at $17.24 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average of $17.82 and a 200 day moving average of $14.62. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The stock has a market cap of $6.89 billion, a PE ratio of -36.68 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) 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 during the quarter, compared to analysts’ expectations of $1.22 billion. As a group, sell-side analysts predict that Lyft will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the transaction, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the sale, the chief accounting officer now directly owns 255,817 shares of the company’s stock, valued at approximately $4,108,421.02. The disclosure for this sale can be found here. In the last three months, insiders sold 280,526 shares of company stock worth $5,358,031. Insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors have recently made changes to their positions in LYFT. Charles Schwab Investment Management Inc. increased its stake in Lyft by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,488,609 shares of the ride-sharing company’s stock valued at $36,770,000 after purchasing an additional 1,043,719 shares during the last quarter. Invesco Ltd. boosted its stake in Lyft by 21.3% during the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock valued at $46,647,000 after purchasing an additional 778,563 shares during the period. Vanguard Group Inc. grew its position in Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after purchasing an additional 1,135,036 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Lyft during the third quarter valued at approximately $1,224,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of Lyft by 123.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,208,700 shares of the ride-sharing company’s stock worth $12,740,000 after buying an additional 667,600 shares during the period. 83.07% of the stock is currently owned by institutional investors.

About Lyft

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.