LYFT’s (LYFT) “Buy” Rating Reaffirmed at Stifel Nicolaus

LYFT (NASDAQ:LYFT)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a report released on Wednesday, AnalystRatings.com reports. They presently have a $80.00 price objective on the ride-sharing company’s stock. Stifel Nicolaus’ price target points to a potential upside of 83.65% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Wolfe Research upgraded LYFT from an “underperform” rating to a “peer perform” rating in a report on Monday. Cowen upped their price target on LYFT from $78.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. MKM Partners initiated coverage on LYFT in a report on Wednesday, October 2nd. They set a “neutral” rating and a $45.00 price target for the company. Wells Fargo & Co initiated coverage on LYFT in a report on Thursday, September 26th. They set an “outperform” rating and a $60.00 price target for the company. Finally, Canaccord Genuity reiterated a “buy” rating and set a $79.00 price target (up from $75.00) on shares of LYFT in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. LYFT currently has an average rating of “Buy” and a consensus price target of $71.15.

NASDAQ:LYFT opened at $43.56 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.09. LYFT has a fifty-two week low of $37.07 and a fifty-two week high of $88.60. The stock’s 50-day moving average is $42.80 and its two-hundred day moving average is $55.22.

LYFT (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported ($0.68) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.66) by $0.98. The business had revenue of $867.30 million for the quarter, compared to analysts’ expectations of $809.64 million. The firm’s revenue was up 71.8% on a year-over-year basis. As a group, research analysts expect that LYFT will post -11.38 EPS for the current year.

In other LYFT news, EVP Ran I. Makavy sold 70,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $52.11, for a total value of $3,647,700.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ran I. Makavy sold 35,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $46.51, for a total value of $1,627,850.00. Over the last 90 days, insiders have sold 111,000 shares of company stock worth $5,563,370.

Hedge funds have recently made changes to their positions in the company. Coastal Investment Advisors Inc. grew its holdings in shares of LYFT by 451.2% during the third quarter. Coastal Investment Advisors Inc. now owns 700 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 573 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in LYFT in the second quarter valued at about $34,000. Flagship Harbor Advisors LLC acquired a new position in LYFT in the second quarter valued at about $37,000. RPG Investment Advisory LLC lifted its stake in LYFT by 500.0% in the second quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock valued at $38,000 after buying an additional 500 shares during the period. Finally, Parallel Advisors LLC acquired a new position in LYFT in the second quarter valued at about $38,000. Institutional investors own 34.55% 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 provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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Analyst Recommendations for LYFT (NASDAQ:LYFT)

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