Lyft (NASDAQ:LYFT) Rating Reiterated by Cantor Fitzgerald

Lyft (NASDAQ:LYFT)‘s stock had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $13.00 price objective on the ride-sharing company’s stock. Cantor Fitzgerald’s price target suggests a potential downside of 2.48% from the company’s previous close.

Other equities research analysts have also issued reports about the company. UBS Group reduced their price target on shares of Lyft from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Wedbush decreased their target price on Lyft from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Fox Advisors upgraded Lyft from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Friday, June 7th. Melius assumed coverage on Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Twenty-seven investment 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. According to MarketBeat.com, Lyft has an average rating of “Hold” and an average target price of $15.65.

Lyft Trading Up 4.8 %

Shares of NASDAQ:LYFT opened at $13.33 on Monday. The company’s 50-day moving average price is $11.54 and its 200 day moving average price is $14.59. The company has a market cap of $5.38 billion, a PE ratio of -28.36 and a beta of 2.04. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Sell-side analysts anticipate that Lyft will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now directly owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $14.01, for a total transaction of $49,035.00. Following the sale, the president now directly owns 50,778 shares of the company’s stock, valued at approximately $711,399.78. The disclosure for this sale can be found here. Insiders sold 39,164 shares of company stock valued at $470,513 over the last quarter. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC lifted 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 period. Kapitalo Investimentos Ltda bought a new position in shares of Lyft in the 4th quarter valued at about $34,000. International Assets Investment Management LLC bought a new position in shares of Lyft in the 2nd quarter valued at about $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. bought a new stake in shares of Lyft during the fourth quarter worth approximately $40,000. 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.