Lyft (NASDAQ:LYFT) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of Lyft (NASDAQ:LYFT) from a hold rating to a buy rating in a report published on Tuesday morning, MarketBeat reports. TD Cowen currently has $21.00 price target on the ride-sharing company’s stock, up from their previous price target of $16.00.

LYFT has been the topic of a number of other reports. UBS Group increased their price target on Lyft from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a report on Wednesday, March 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price objective on shares of Lyft in a report on Thursday, June 5th. Susquehanna upped their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Finally, Morgan Stanley decreased their price target on Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.50.

Lyft Stock Performance

NASDAQ:LYFT opened at $15.85 on Tuesday. The firm has a market capitalization of $6.63 billion, a PE ratio of 105.67, a PEG ratio of 3.05 and a beta of 2.22. Lyft has a 1 year low of $8.93 and a 1 year high of $19.07. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $14.68 and its 200 day simple moving average is $13.51.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. On average, sell-side analysts anticipate that Lyft will post 0.22 EPS for the current year.

Insider Activity

In other news, CEO John David Risher acquired 6,538 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the transaction, the chief executive officer now directly owns 11,791,340 shares in the company, valued at $180,289,588.60. This represents a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the sale, the insider now directly owns 959,697 shares in the company, valued at $11,948,227.65. This trade represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,732 shares of company stock worth $347,159. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its position in shares of Lyft by 3.7% during the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock worth $290,000 after acquiring an additional 868 shares in the last quarter. Amalgamated Bank raised its stake in Lyft by 4.0% in the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock valued at $277,000 after purchasing an additional 892 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Lyft by 3.8% in the 4th quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock worth $316,000 after purchasing an additional 903 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in Lyft by 11.3% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock worth $107,000 after purchasing an additional 914 shares during the period. Finally, Guggenheim Capital LLC increased its stake in Lyft by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock worth $207,000 after purchasing an additional 970 shares during the period. 83.07% of the stock is owned by institutional investors.

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.