Lyft (NASDAQ:LYFT – Get Free Report) was downgraded by equities researchers at Fox Advisors from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, Briefing.com reports.
Other research analysts also recently issued reports about the company. TD Cowen lowered their target price on Lyft from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Morgan Stanley raised their target price on shares of Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Wells Fargo & Company reduced their price target on shares of Lyft from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Truist Financial upped their price target on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday. Finally, Piper Sandler reiterated an “overweight” rating and set a $21.00 price objective (up from $20.00) on shares of Lyft in a research report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and an average price target of $19.00.
View Our Latest Analysis on Lyft
Lyft Price Performance
NASDAQ:LYFT opened at $17.09 on Monday. The business’s 50-day moving average is $16.20 and its 200 day moving average is $15.13. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54. The company has a market capitalization of $6.47 billion, a P/E ratio of 2.54, a P/E/G ratio of 1.06 and a beta of 2.06. The company has a current ratio of 0.60, a quick ratio of 0.59 and a debt-to-equity ratio of 0.34.
Lyft (NASDAQ:LYFT – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The ride-sharing company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.23). Lyft had a net margin of 40.67% and a return on equity of 1.25%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the business earned $0.11 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Lyft will post 0.81 earnings per share for the current fiscal year.
Insider Buying and Selling at Lyft
In other Lyft news, CFO Erin Brewer sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $14.64, for a total transaction of $219,600.00. Following the sale, the chief financial officer directly owned 837,303 shares in the company, valued at $12,258,115.92. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Llewellyn sold 13,204 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $16.64, for a total value of $219,714.56. Following the completion of the sale, the insider directly owned 781,152 shares of the company’s stock, valued at $12,998,369.28. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 61,586 shares of company stock valued at $1,024,326. Corporate insiders own 0.92% of the company’s stock.
Institutional Trading of Lyft
Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in Lyft by 17.5% during the third quarter. Russell Investments Group Ltd. now owns 104,121 shares of the ride-sharing company’s stock worth $1,563,000 after buying an additional 15,527 shares during the period. Ariadne Wealth Management LP raised its stake in shares of Lyft by 34.4% in the third quarter. Ariadne Wealth Management LP now owns 14,320 shares of the ride-sharing company’s stock valued at $215,000 after acquiring an additional 3,668 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of Lyft by 38.0% in the third quarter. Maryland State Retirement & Pension System now owns 104,725 shares of the ride-sharing company’s stock valued at $1,572,000 after acquiring an additional 28,847 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Lyft by 5.4% in the third quarter. Illinois Municipal Retirement Fund now owns 704,564 shares of the ride-sharing company’s stock valued at $10,576,000 after acquiring an additional 35,793 shares during the period. Finally, Fulcrum Asset Management LLP lifted its holdings in shares of Lyft by 546.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 118,384 shares of the ride-sharing company’s stock worth $1,784,000 after acquiring an additional 100,063 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.
Lyft Company Profile
Lyft operates a mobile platform that connects people seeking transportation with drivers who provide rides. Through its app, customers can request on-demand trips, schedule rides in advance, and access other ride options where available. The company also offers Lyft Pink, a membership program with benefits for eligible rides and services.
Lyft provides transportation programs for businesses and organizations through Lyft Business, including tools for arranging and managing rides. The company’s platform primarily serves markets in the United States and Canada.
Lyft was founded in 2012 by Logan Green and John Zimmer.
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