Loop Capital Cuts Lyft (NASDAQ:LYFT) Price Target to $16.00

Lyft (NASDAQ:LYFT) had its target price cut by Loop Capital from $20.00 to $16.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

LYFT has been the subject of a number of other research reports. BMO Capital Markets decreased their price target on shares of Lyft from $19.00 to $13.00 and set a market perform rating for the company in a report on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Lyft from $17.00 to $12.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Nomura upgraded shares of Lyft from a reduce rating to a neutral rating and cut their price objective for the stock from $15.00 to $13.00 in a research note on Friday, August 23rd. Barclays cut their price objective on shares of Lyft from $20.00 to $14.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group cut their price objective on shares of Lyft from $23.00 to $18.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Twenty-six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $15.65.

Lyft Trading Down 0.8 %

NASDAQ LYFT opened at $11.25 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm has a market cap of $4.54 billion, a PE ratio of -23.94 and a beta of 2.04. The company has a 50 day moving average price of $11.92 and a 200 day moving average price of $15.06. Lyft has a 52 week low of $8.85 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. Lyft’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS. As a group, sell-side analysts forecast that Lyft will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In related news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares in the company, valued at $10,625,506.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the sale, the director now owns 932,062 shares in the company, valued at approximately $10,625,506.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 10,323 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The disclosure for this sale can be found here. Insiders sold a total of 32,497 shares of company stock worth $392,157 over the last three months. Insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after purchasing an additional 782,736 shares during the last quarter. Norges Bank acquired a new position in Lyft in the 4th quarter valued at $94,687,000. Primecap Management Co. CA increased its stake in Lyft by 1.5% in the 2nd quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock valued at $88,211,000 after buying an additional 94,710 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Lyft by 1.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after buying an additional 63,461 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Lyft by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after buying an additional 141,823 shares during the period. Hedge funds and other 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.