Lyft (NASDAQ:LYFT) Price Target Raised to $18.00 at DA Davidson

Lyft (NASDAQ:LYFT) had its price objective increased by stock analysts at DA Davidson from $15.00 to $18.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. DA Davidson’s price target suggests a potential upside of 8.43% from the company’s current price.

A number of other equities research analysts also recently commented on LYFT. Tigress Financial lifted their price objective on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. TD Cowen increased their price objective on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a report on Monday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, April 8th. Finally, Piper Sandler upped their price objective on Lyft from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $15.45.

Lyft Trading Down 5.3 %

Shares of LYFT stock opened at $16.60 on Wednesday. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of -18.65 and a beta of 2.05. The firm has a 50-day moving average price of $17.75 and a 200 day moving average price of $14.58. 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 (NASDAQ:LYFT) last announced 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. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Research analysts forecast that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other Lyft news, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Logan Green sold 11,867 shares of Lyft 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 completion of the sale, the director now owns 346,341 shares in the company, valued at $5,434,090.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Kristin Sverchek sold 5,670 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the transaction, the president now owns 633,950 shares in the company, valued at $9,521,929. The disclosure for this sale can be found here. Over the last three months, insiders sold 280,526 shares of company stock worth $5,358,031. 3.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Lyft by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 32,116,655 shares of the ride-sharing company’s stock valued at $481,429,000 after buying an additional 659,133 shares in the last quarter. Norges Bank acquired a new stake in shares of Lyft during the 4th quarter valued at approximately $94,687,000. Jacobs Levy Equity Management Inc. lifted its stake in Lyft by 5.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after purchasing an additional 300,982 shares during the last quarter. Invesco Ltd. boosted its holdings in Lyft by 21.3% in the third quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after purchasing an additional 778,563 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Lyft by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after purchasing an additional 141,823 shares during the last quarter. Institutional investors and hedge funds own 83.07% 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. 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.