Lyft (NASDAQ:LYFT) PT Lowered to $13.00

Lyft (NASDAQ:LYFT) had its price target cut by analysts at BMO Capital Markets from $19.00 to $13.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the ride-sharing company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 33.20% from the stock’s current price.

Several other research firms also recently commented on LYFT. UBS Group dropped their price objective on Lyft from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley upped their price target on Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, June 7th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research note on Wednesday. Tigress Financial boosted their price objective on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Melius Research initiated coverage on shares of Lyft in a report on Monday, July 22nd. They set a “hold” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lyft has a consensus rating of “Hold” and a consensus target price of $15.97.

Lyft Stock Performance

Shares of Lyft stock traded down $0.31 during trading hours on Thursday, hitting $9.76. 18,735,444 shares of the company’s stock traded hands, compared to its average volume of 15,903,942. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -20.77 and a beta of 2.06. Lyft has a 12-month low of $8.85 and a 12-month high of $20.82. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The company has a fifty day simple moving average of $13.14 and a 200-day simple moving average of $15.35.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) earnings per share. Equities research analysts anticipate that Lyft will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.81, for a total value of $41,430.00. Following the transaction, the president now owns 47,778 shares in the company, valued at approximately $659,814.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director John Patrick Zimmer sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the transaction, the director now owns 924,621 shares in the company, valued at $15,293,231.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the transaction, the president now directly owns 47,778 shares in the company, valued at $659,814.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,333 shares of company stock valued at $518,714. 3.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently added to or reduced their stakes in LYFT. FinTrust Capital Advisors LLC raised its stake in shares of Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares during the last quarter. Allworth Financial LP increased its holdings in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 1,672 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Lyft during the 1st quarter valued at approximately $41,000. GAMMA Investing LLC raised its position in Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares during the last quarter. Finally, a16z Perennial Management L.P. purchased a new stake in Lyft in the 4th quarter worth approximately $34,000. Institutional investors own 83.07% of the company’s stock.

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.