Lyft (NASDAQ:LYFT) Given New $15.00 Price Target at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its price target cut by BMO Capital Markets from $18.00 to $15.00 in a research report released on Wednesday,Benzinga reports. They currently have a market perform rating on the ride-sharing company’s stock.

LYFT has been the topic of several other reports. TD Cowen boosted their price objective on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price (down previously from $23.00) on shares of Lyft in a report on Wednesday. Wedbush lowered their target price on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Susquehanna lifted their price objective on Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Evercore ISI cut their target price on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research report on Wednesday. Twenty-six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.22.

Lyft Stock Performance

Shares of LYFT opened at $13.43 on Wednesday. The company’s 50 day simple moving average is $13.88 and its 200-day simple moving average is $13.52. The firm has a market cap of $5.57 billion, a PE ratio of -83.94, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. As a group, equities analysts predict that Lyft will post 0.06 EPS for the current year.

Lyft announced that its board has initiated a share buyback plan on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lyft

Hedge funds have recently made changes to their positions in the business. True Wealth Design LLC purchased a new stake in Lyft during the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lyft in the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Lyft in the fourth quarter worth about $31,000. Byrne Asset Management LLC purchased a new stake in shares of Lyft during the 4th quarter valued at about $35,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Lyft during the 4th quarter valued at about $35,000. 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.