Lyft (NASDAQ:LYFT) Price Target Increased to $12.00 by Analysts at Deutsche Bank Aktiengesellschaft

Lyft (NASDAQ:LYFT – Get Rating) had its target price upped by Deutsche Bank Aktiengesellschaft from $11.00 to $12.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a hold rating on the ride-sharing company’s stock.

A number of other analysts also recently commented on the stock. Piper Sandler cut their price objective on shares of Lyft from $16.00 to $15.00 and set an overweight rating for the company in a report on Friday, February 10th. Cowen lowered their price objective on Lyft from $14.00 to $11.00 and set a market perform rating on the stock in a research note on Friday, February 10th. Daiwa Capital Markets cut their target price on Lyft to $11.00 in a research note on Tuesday, November 15th. DA Davidson cut shares of Lyft from a buy rating to a neutral rating and lowered their price target for the company from $19.00 to $12.50 in a research report on Friday, February 10th. Finally, Atlantic Securities cut their price objective on shares of Lyft to $14.00 in a research report on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, twenty-eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $17.57.

Lyft Price Performance

Lyft stock opened at $10.06 on Wednesday. The company has a fifty day simple moving average of $12.66 and a 200-day simple moving average of $12.77. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -2.26 and a beta of 1.75. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.07. Lyft has a 52-week low of $8.19 and a 52-week high of $40.46.

Insiders Place Their Bets

In other news, Director Mary Agnes Wilderotter sold 1,826 shares of Lyft stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $16.65, for a total value of $30,402.90. Following the completion of the transaction, the director now owns 36,904 shares in the company, valued at approximately $614,451.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently modified their holdings of LYFT. US Bancorp DE grew its stake in shares of Lyft by 35.0% during the first quarter. US Bancorp DE now owns 10,672 shares of the ride-sharing company’s stock worth $410,000 after purchasing an additional 2,768 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Lyft by 26.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 29,753 shares of the ride-sharing company’s stock valued at $1,142,000 after acquiring an additional 6,200 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Lyft in the 1st quarter valued at about $731,000. Panagora Asset Management Inc. acquired a new stake in shares of Lyft during the 1st quarter worth about $206,000. Finally, APG Asset Management N.V. lifted its stake in Lyft by 8.9% during the first quarter. APG Asset Management N.V. now owns 12,200 shares of the ride-sharing company’s stock worth $421,000 after purchasing an additional 1,000 shares during the last quarter. 79.44% of the stock is owned by hedge funds and other institutional investors.

About Lyft

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Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.