Lyft (NASDAQ:LYFT) PT Raised to $18.00 at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its target price boosted by research analysts at BMO Capital Markets from $15.00 to $18.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the ride-sharing company’s stock. BMO Capital Markets’ price target suggests a potential upside of 2.45% from the company’s current price.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group downgraded Lyft from a “buy” rating to a “neutral” rating and lifted their price target for the company from $12.00 to $15.00 in a report on Thursday, January 11th. Tigress Financial increased their target price on shares of Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Truist Financial increased their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Lyft from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.86.

Lyft Trading Up 5.8 %

NASDAQ:LYFT traded up $0.97 on Wednesday, reaching $17.57. The company’s stock had a trading volume of 19,715,340 shares, compared to its average volume of 16,374,242. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The stock has a 50 day moving average price of $17.75 and a 200 day moving average price of $14.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of -20.31 and a beta of 2.05.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, equities analysts anticipate that Lyft will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the completion of the transaction, the president now directly owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lyft news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the transaction, the president now owns 60,778 shares in the company, valued at approximately $1,063,615. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total transaction of $275,327.24. Following the sale, the director now directly owns 1,204,071 shares of the company’s stock, valued at $21,083,283.21. The disclosure for this sale can be found here. Insiders have sold 280,526 shares of company stock valued at $5,358,031 in the last ninety days. 3.16% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. lifted its position in Lyft by 55.2% in the 1st quarter. QRG Capital Management Inc. now owns 23,417 shares of the ride-sharing company’s stock valued at $453,000 after purchasing an additional 8,328 shares during the last quarter. Headlands Technologies LLC bought a new position in Lyft in the first quarter valued at about $2,328,000. Sei Investments Co. raised its position in shares of Lyft by 55.3% during the first quarter. Sei Investments Co. now owns 98,676 shares of the ride-sharing company’s stock worth $1,909,000 after purchasing an additional 35,146 shares during the period. Swiss National Bank raised its holdings in Lyft by 2.0% during the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after acquiring an additional 13,300 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Lyft during the 1st quarter worth approximately $1,262,000. 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.