Lyft (NASDAQ:LYFT) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Lyft (NASDAQ:LYFT) in a research report report published on Monday, Benzinga reports. They currently have a $13.00 target price on the ride-sharing company’s stock.

Other research analysts have also issued research reports about the stock. Citigroup dropped their price target on shares of Lyft from $18.00 to $10.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price target on shares of Lyft from $19.00 to $21.00 and gave the stock a neutral rating in a research note on Friday, June 7th. Nomura upgraded shares of Lyft from a reduce rating to a neutral rating and dropped their price target for the stock from $15.00 to $13.00 in a research note on Friday, August 23rd. Wedbush dropped their price target on shares of Lyft from $19.00 to $12.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler reiterated an overweight rating and issued a $24.00 target price (up from $23.00) on shares of Lyft in a research note on Friday, June 7th. Twenty-six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $15.65.

Lyft Trading Up 0.4 %

Shares of NASDAQ:LYFT opened at $12.54 on Monday. The company has a 50 day moving average of $11.58 and a 200-day moving average of $14.41. The firm has a market cap of $5.06 billion, a P/E ratio of -26.68 and a beta of 2.04. Lyft has a twelve month low of $8.85 and a twelve month high of $20.82. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00.

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

Insider Buying and Selling at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the transaction, the insider now directly owns 764,332 shares in the company, valued at $8,988,544.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the sale, the insider now directly owns 764,332 shares in the company, valued at $8,988,544.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, the director now owns 932,062 shares in the company, valued at $10,625,506.80. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock worth $380,048 over the last ninety days. Insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LYFT. FinTrust Capital Advisors LLC grew its position in shares of Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 1,000 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Lyft during the 4th quarter worth approximately $34,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the 2nd quarter worth approximately $35,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft during the 2nd quarter worth approximately $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Lyft during the 4th quarter worth approximately $40,000. 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.