Lyft (NASDAQ:LYFT) PT Raised to $22.00 at Piper Sandler

Lyft (NASDAQ:LYFT) had its price objective raised by Piper Sandler from $17.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada raised Lyft from a sector perform rating to an outperform rating and increased their price target for the company from $17.00 to $23.00 in a research note on Monday, March 4th. Wells Fargo & Company lifted their price target on Lyft from $12.00 to $15.00 and gave the company an equal weight rating in a research note on Wednesday, February 14th. Citigroup lifted their price target on Lyft from $13.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. UBS Group raised their price objective on Lyft from $13.00 to $14.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. raised their price objective on Lyft from $11.00 to $13.00 and gave the company a neutral rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $14.40.

Lyft Trading Up 4.2 %

LYFT traded up $0.72 during mid-day trading on Friday, reaching $17.95. The stock had a trading volume of 14,468,323 shares, compared to its average volume of 18,507,709. The stock has a market capitalization of $7.18 billion, a P/E ratio of -20.17 and a beta of 1.95. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s fifty day simple moving average is $14.88 and its two-hundred day simple moving average is $12.78. Lyft has a 52 week low of $7.85 and a 52 week high of $19.42.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. On average, equities analysts predict that Lyft will post -0.34 EPS for the current year.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 18,581 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $15.26, for a total transaction of $283,546.06. Following the sale, the chief accounting officer now owns 282,999 shares of the company’s stock, valued at $4,318,564.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Lisa Blackwood-Kapral sold 18,581 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $15.26, for a total value of $283,546.06. Following the sale, the chief accounting officer now owns 282,999 shares of the company’s stock, valued at $4,318,564.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Kristin Sverchek sold 5,669 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $14.16, for a total transaction of $80,273.04. Following the completion of the sale, the president now directly owns 639,620 shares in the company, valued at approximately $9,057,019.20. The disclosure for this sale can be found here. Insiders sold a total of 85,576 shares of company stock worth $1,367,862 over the last three months. Corporate insiders own 3.16% of the company’s stock.

Institutional Trading of Lyft

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its position in Lyft by 685.2% during the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 1,672 shares during the last quarter. a16z Perennial Management L.P. bought a new stake in Lyft during the fourth quarter valued at $34,000. BluePath Capital Management LLC bought a new stake in Lyft during the third quarter valued at $35,000. Gables Capital Management Inc. raised its holdings in shares of Lyft by 129.0% during the third quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock valued at $37,000 after purchasing an additional 2,000 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Lyft by 77.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 1,567 shares during the period. Institutional investors own 71.63% 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.