Lyft (NASDAQ:LYFT) PT Raised to $13.00

Lyft (NASDAQ:LYFT) had its price objective increased by Morgan Stanley from $12.00 to $13.00 in a report issued on Monday, Benzinga reports. They currently have an equal weight rating on the ride-sharing company’s stock.

LYFT has been the subject of a number of other reports. Argus upgraded shares of Lyft from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Tuesday, March 5th. Moffett Nathanson raised shares of Lyft from a sell rating to a neutral rating in a research report on Wednesday, February 14th. BMO Capital Markets began coverage on Lyft in a research report on Tuesday, January 9th. They issued a market perform rating and a $15.00 price target on the stock. Tigress Financial boosted their price objective on Lyft from $22.00 to $24.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Piper Sandler raised their target price on Lyft from $17.00 to $22.00 and gave the company an overweight rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $15.16.

Lyft Stock Up 1.9 %

NASDAQ LYFT opened at $17.52 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The company has a 50 day moving average price of $17.75 and a two-hundred day moving average price of $14.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Research analysts predict that Lyft will post -0.35 EPS for the current year.

Insider Buying and Selling at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $16.06, for a total value of $290,123.90. Following the sale, the chief accounting officer now owns 255,817 shares of the company’s stock, valued at approximately $4,108,421.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $16.06, for a total value of $290,123.90. Following the transaction, the chief accounting officer now directly owns 255,817 shares of the company’s stock, valued at approximately $4,108,421.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $15.69, for a total value of $186,193.23. Following the sale, the director now directly owns 346,341 shares of the company’s stock, valued at $5,434,090.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 280,526 shares of company stock valued at $5,358,031. 3.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC increased its position in Lyft by 277.8% in the 1st 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 in the last quarter. Allworth Financial LP raised its position in Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares during the last quarter. a16z Perennial Management L.P. acquired a new position in Lyft during the 4th quarter worth $34,000. Kapitalo Investimentos Ltda bought a new position in Lyft in the 4th quarter valued at $34,000. Finally, BluePath Capital Management LLC bought a new stake in shares of Lyft during the third quarter worth $35,000. 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.