Deutsche Bank Aktiengesellschaft Trims Lyft (NASDAQ:LYFT) Target Price to $11.00

Lyft (NASDAQ:LYFT) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $15.00 to $11.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a hold rating on the ride-sharing company’s stock.

Other analysts have also issued research reports about the stock. Susquehanna decreased their target price on shares of Lyft from $18.00 to $10.00 and set a neutral rating on the stock in a research report on Thursday. Melius Research began coverage on shares of Lyft in a research report on Monday, July 22nd. They set a hold rating and a $15.00 target price on the stock. Wolfe Research began coverage on shares of Lyft in a research report on Tuesday, July 16th. They set a peer perform rating on the stock. Tigress Financial raised their target price on shares of Lyft from $22.00 to $24.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Royal Bank of Canada restated an outperform rating and set a $24.00 target price on shares of Lyft in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $15.97.

Lyft Price Performance

Shares of LYFT stock traded down $0.31 during trading hours on Thursday, hitting $9.76. The company’s stock had a trading volume of 18,735,444 shares, compared to its average volume of 15,903,942. The business has a fifty day moving average of $13.14 and a 200-day moving average of $15.37. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -20.77 and a beta of 2.06. Lyft has a twelve month low of $8.85 and a twelve month high of $20.82. 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 (NASDAQ:LYFT) last released its quarterly 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 for 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 company’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, equities research analysts anticipate that Lyft will post -0.18 EPS for the current year.

Insider Activity

In related news, President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the sale, the president now directly owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John Patrick Zimmer sold 3,327 shares of Lyft stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $15.74, for a total value of $52,366.98. Following the sale, the director now directly owns 921,294 shares in the company, valued at approximately $14,501,167.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the sale, the president now owns 47,778 shares in the company, valued at $659,814.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,333 shares of company stock valued at $518,714. Company insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after purchasing an additional 664 shares in the last quarter. Commerce Bank raised its holdings in shares of Lyft by 2.9% in the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock worth $414,000 after purchasing an additional 782 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Lyft by 4.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after purchasing an additional 993 shares in the last quarter. FinTrust Capital Advisors LLC increased its position in shares of Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Finally, CWM LLC increased its position in shares of Lyft by 15.4% in the fourth 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 in the last quarter. 83.07% of the stock is currently owned by 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.