Lyft (NASDAQ:LYFT) Given New $16.00 Price Target at Roth Mkm

Lyft (NASDAQ:LYFT) had its price objective boosted by Roth Mkm from $13.00 to $16.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the ride-sharing company’s stock. Roth Mkm’s price target would suggest a potential downside of 12.71% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wedbush reissued a “neutral” rating and set a $20.00 target price (up from $12.00) on shares of Lyft in a research note on Thursday. Barclays reduced their price target on Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Truist Financial upped their price objective on shares of Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday. TD Cowen decreased their target price on shares of Lyft from $18.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lyft currently has an average rating of “Hold” and a consensus price target of $16.74.

Lyft Stock Performance

LYFT traded up $3.93 on Thursday, hitting $18.33. 34,458,465 shares of the company’s stock were exchanged, compared to its average volume of 14,875,382. The firm has a market cap of $7.52 billion, a PE ratio of -113.69 and a beta of 2.04. The stock has a fifty day moving average of $12.71 and a two-hundred day moving average of $13.50. Lyft has a twelve month low of $8.93 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 issued its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate 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 revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.14) EPS. On average, research analysts anticipate that Lyft will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were 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 of the company’s stock, valued at $10,625,506.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,664 shares of company stock valued at $380,048. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently bought and sold shares of LYFT. International Assets Investment Management LLC bought a new stake in Lyft in the 2nd quarter valued at $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft during the second quarter valued at about $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lyft in the third quarter valued at about $38,000. Allspring Global Investments Holdings LLC acquired a new stake in Lyft during the first quarter worth about $41,000. Finally, Quarry LP increased its stake in Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after acquiring an additional 3,468 shares during the period. 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.