Lyft (NASDAQ:LYFT) Shares Gap Down – What’s Next?

Shares of Lyft, Inc. (NASDAQ:LYFT) gapped down prior to trading on Wednesday . The stock had previously closed at $14.07, but opened at $13.57. Lyft shares last traded at $13.73, with a volume of 3,099,351 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LYFT shares. DA Davidson raised their price objective on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. TD Cowen boosted their target price on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Susquehanna lifted their price objective on shares of Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Jefferies Financial Group upped their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial lifted their target price on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Twenty-seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.78.

Lyft Trading Up 1.1 %

The business’s fifty day moving average price is $14.16 and its 200 day moving average price is $13.46. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.90 billion, a PE ratio of -88.30, a P/E/G ratio of 1.86 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm posted ($0.02) EPS. Lyft’s revenue was up 31.6% on a year-over-year basis. As a group, analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now directly owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.07% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

A number of institutional investors and hedge funds have recently bought and sold shares of LYFT. QRG Capital Management Inc. grew its stake in Lyft by 3.8% during the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock worth $316,000 after buying an additional 903 shares during the period. Sanctuary Advisors LLC increased its holdings in Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after purchasing an additional 969 shares in the last quarter. XTX Topco Ltd raised its position in Lyft by 2.5% in the third quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock valued at $538,000 after purchasing an additional 1,043 shares during the period. US Bancorp DE lifted its stake in shares of Lyft by 2.6% during the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock worth $536,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of Lyft by 13.8% in the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock worth $115,000 after buying an additional 1,080 shares during the period. Institutional investors and hedge funds 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.