Lyft (NASDAQ:LYFT) Raised to “Buy” at Gordon Haskett

Gordon Haskett upgraded shares of Lyft (NASDAQ:LYFTFree Report) from a hold rating to a buy rating in a research note published on Friday morning, Marketbeat.com reports. They currently have $20.00 price objective on the ride-sharing company’s stock, up from their previous price objective of $17.00.

A number of other research analysts have also recently commented on the company. BMO Capital Markets upped their price target on Lyft from $15.00 to $18.00 and gave the company a market perform rating in a research report on Wednesday, May 8th. TD Cowen upped their price target on Lyft from $14.00 to $16.00 and gave the company a hold rating in a research report on Wednesday, May 8th. Sanford C. Bernstein upped their price target on Lyft from $15.00 to $19.00 and gave the company a market perform rating in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a hold rating on shares of Lyft in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price target on Lyft from $11.00 to $13.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $18.04.

Check Out Our Latest Stock Report on Lyft

Lyft Stock Down 0.6 %

LYFT stock opened at $15.60 on Friday. The stock’s fifty day simple moving average is $16.84 and its two-hundred day simple moving average is $15.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The stock has a market cap of $6.29 billion, a P/E ratio of -33.19 and a beta of 2.09.

Lyft (NASDAQ:LYFTGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Analysts expect that Lyft will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other news, President Kristin Sverchek sold 6,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00. Following the transaction, the president now directly owns 64,278 shares in the company, valued at approximately $998,880.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Kristin Sverchek sold 6,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $15.54, for a total transaction of $101,010.00. Following the transaction, the president now directly owns 64,278 shares in the company, valued at approximately $998,880.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 7,923 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the transaction, the director now owns 924,621 shares in the company, valued at $15,293,231.34. The disclosure for this sale can be found here. Insiders have sold 246,033 shares of company stock worth $4,782,237 in the last ninety days. 3.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently modified their holdings of the company. FinTrust Capital Advisors LLC boosted its holdings in Lyft by 277.8% during the 1st 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 during the period. Allworth Financial LP boosted its holdings in Lyft by 685.2% during the 4th 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 during the period. a16z Perennial Management L.P. purchased a new stake in Lyft during the 4th quarter valued at about $34,000. Kapitalo Investimentos Ltda purchased a new stake in Lyft during the 4th quarter valued at about $34,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock valued at $38,000 after acquiring an additional 1,567 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Lyft Company Profile

(Get Free Report)

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.

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