Lyft (NASDAQ:LYFT) Price Target Increased to $18.00 by Analysts at Wedbush

Lyft (NASDAQ:LYFT) had its target price lifted by Wedbush from $15.00 to $18.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the ride-sharing company’s stock.

LYFT has been the subject of a number of other reports. Needham & Company LLC reiterated a hold rating on shares of Lyft in a research note on Wednesday. Tigress Financial boosted their target price on shares of Lyft from $22.00 to $24.00 and gave the company a buy rating in a research note on Thursday, April 18th. Morgan Stanley boosted their target price on shares of Lyft from $12.00 to $13.00 and gave the company an equal weight rating in a research note on Monday. Moffett Nathanson upgraded Lyft from a sell rating to a neutral rating in a research note on Wednesday, February 14th. Finally, UBS Group upped their price objective on Lyft from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Lyft presently has a consensus rating of Hold and a consensus price target of $16.70.

Lyft Stock Down 3.0 %

Shares of LYFT traded down $0.54 during mid-day trading on Wednesday, reaching $17.24. The company had a trading volume of 12,924,053 shares, compared to its average volume of 16,567,121. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of -36.87 and a beta of 2.05. Lyft has a 52 week low of $7.85 and a 52 week high of $20.82. 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 has a 50-day moving average price of $17.75 and a 200 day moving average price of $14.58.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. On average, sell-side analysts forecast that Lyft will post -0.35 EPS for the current year.

Insider Buying and Selling

In related news, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the transaction, the president now directly owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the transaction, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. 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 owned by company insiders.

Hedge Funds Weigh In On Lyft

Institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC boosted its stake in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares in the last quarter. Allworth Financial LP boosted its stake in Lyft by 685.2% in 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 in the last quarter. a16z Perennial Management L.P. acquired a new stake in Lyft in the fourth quarter valued at approximately $34,000. Kapitalo Investimentos Ltda acquired a new stake in Lyft in the fourth quarter valued at approximately $34,000. Finally, Gables Capital Management Inc. boosted its stake in Lyft by 129.0% in the third quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock valued at $37,000 after acquiring an additional 2,000 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other 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.