Lyft (NASDAQ:LYFT) Price Target Raised to $25.00 at Cantor Fitzgerald

Lyft (NASDAQ:LYFT) had its price target increased by Cantor Fitzgerald from $19.00 to $25.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

Several other brokerages also recently commented on LYFT. Mizuho initiated coverage on shares of Lyft in a research note on Tuesday, September 30th. They set a “neutral” rating and a $24.00 price objective for the company. UBS Group increased their price target on shares of Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. BMO Capital Markets lifted their price objective on Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday. Sanford C. Bernstein reiterated a “market perform” rating and set a $22.00 target price on shares of Lyft in a report on Tuesday, October 21st. Finally, Benchmark restated a “buy” rating on shares of Lyft in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.42.

Lyft Price Performance

NASDAQ:LYFT traded up $0.79 during trading hours on Thursday, hitting $22.04. The stock had a trading volume of 21,590,512 shares, compared to its average volume of 15,815,194. Lyft has a one year low of $9.66 and a one year high of $23.50. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.70. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 62.50, a P/E/G ratio of 3.72 and a beta of 2.36. The company has a 50 day simple moving average of $20.29 and a two-hundred day simple moving average of $16.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Research analysts forecast that Lyft will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $258,600.00. Following the transaction, the chief financial officer directly owned 525,759 shares of the company’s stock, valued at $9,064,085.16. This represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John David Risher purchased 5,926 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the purchase, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 74,427 shares of company stock worth $1,252,686. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in Lyft by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock worth $115,000 after acquiring an additional 2,871 shares during the period. Maxi Investments CY Ltd increased its stake in shares of Lyft by 320.4% in the 1st quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company’s stock worth $11,228,000 after purchasing an additional 720,933 shares in the last quarter. Joule Financial LLC bought a new position in Lyft in the 2nd quarter worth $760,000. Polar Asset Management Partners Inc. bought a new position in Lyft in the 1st quarter worth $2,191,000. Finally, Kaufman Rossin Wealth LLC lifted its position in Lyft by 93.1% during the second quarter. Kaufman Rossin Wealth LLC now owns 32,188 shares of the ride-sharing company’s stock valued at $507,000 after purchasing an additional 15,518 shares in the last quarter. Hedge funds and other institutional investors 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.