A number of other brokerages also recently weighed in on LYFT. Credit Suisse Group lowered their price objective on shares of Lyft from $50.00 to $46.00 and set an outperform rating for the company in a research report on Wednesday. Argus decreased their target price on shares of Lyft from $72.00 to $41.00 in a research report on Monday, May 16th. Wedbush decreased their target price on shares of Lyft from $32.00 to $25.00 and set an outperform rating for the company in a research report on Friday. The Goldman Sachs Group decreased their target price on shares of Lyft from $36.00 to $24.00 and set a buy rating for the company in a research report on Thursday, June 9th. Finally, Susquehanna cut shares of Lyft from a positive rating to a neutral rating and decreased their target price for the stock from $54.00 to $25.00 in a research report on Wednesday, May 4th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lyft currently has an average rating of Moderate Buy and an average target price of $38.57.
Lyft Stock Performance
LYFT opened at $20.28 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.14 and a quick ratio of 1.14. Lyft has a 1-year low of $11.96 and a 1-year high of $57.68. The company has a 50-day moving average of $14.89 and a 200-day moving average of $27.17.
Hedge Funds Weigh In On Lyft
Several large investors have recently made changes to their positions in the business. MCF Advisors LLC bought a new position in Lyft during the first quarter valued at about $25,000. Rockbridge Investment Management LCC grew its stake in shares of Lyft by 95.6% in the 4th quarter. Rockbridge Investment Management LCC now owns 671 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 328 shares during the period. Elequin Capital LP bought a new stake in shares of Lyft in the 1st quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Lyft by 206.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,067 shares of the ride-sharing company’s stock valued at $46,000 after purchasing an additional 719 shares during the period. Finally, Activest Wealth Management bought a new stake in shares of Lyft in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Lyft Company Profile
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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