Lyft (NASDAQ:LYFT) PT Lowered to $10.00

Lyft (NASDAQ:LYFT) had its target price lowered by research analysts at Susquehanna from $18.00 to $10.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the ride-sharing company’s stock. Susquehanna’s target price indicates a potential upside of 2.46% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Wedbush lifted their target price on Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. TD Cowen boosted their price objective on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, June 7th. Barclays raised their target price on shares of Lyft from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Wells Fargo & Company cut their price target on shares of Lyft from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Finally, Truist Financial decreased their price objective on shares of Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lyft currently has an average rating of “Hold” and a consensus target price of $15.97.

Lyft Price Performance

NASDAQ LYFT traded down $0.31 on Thursday, reaching $9.76. The company’s stock had a trading volume of 18,735,444 shares, compared to its average volume of 15,903,942. Lyft has a twelve month low of $8.85 and a twelve month high of $20.82. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average is $13.14 and its two-hundred day moving average is $15.35. The stock has a market cap of $3.94 billion, a PE ratio of -20.77 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.14) earnings per share. As a group, sell-side analysts predict that Lyft will post -0.18 EPS for the current year.

Insider Activity at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the completion of the sale, the chief accounting officer now owns 351,853 shares in the company, valued at approximately $5,513,536.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at $5,513,536.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Patrick Zimmer sold 3,327 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $15.74, for a total transaction of $52,366.98. Following the completion of the transaction, the director now owns 921,294 shares in the company, valued at $14,501,167.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,333 shares of company stock valued at $518,714. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several large investors have recently made changes to their positions in LYFT. GAMMA Investing LLC boosted its holdings in Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares during the period. Commerce Bank lifted its stake in shares of Lyft by 2.9% in the fourth quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after buying an additional 782 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Lyft by 4.4% in the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after buying an additional 993 shares during the period. FinTrust Capital Advisors LLC increased its stake in Lyft by 277.8% during 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 during the period. Finally, CWM LLC lifted its position in shares of Lyft by 15.4% in the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after acquiring an additional 1,093 shares during the period. Institutional investors and hedge funds 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.