Lyft (NASDAQ:LYFT) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Lyft (NASDAQ:LYFT) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $13.00 price objective on the ride-sharing company’s stock.

LYFT has been the subject of a number of other research reports. Melius assumed coverage on shares of Lyft in a report on Monday, July 22nd. They set a hold rating and a $15.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lyft from $15.00 to $11.00 and set a hold rating for the company in a report on Thursday, August 8th. Nomura raised shares of Lyft from a reduce rating to a neutral rating and dropped their price objective for the company from $15.00 to $13.00 in a report on Friday, August 23rd. Wells Fargo & Company dropped their price objective on shares of Lyft from $17.00 to $12.00 and set an equal weight rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC reissued a hold rating on shares of Lyft in a report on Wednesday, August 7th. Twenty-six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lyft presently has a consensus rating of Hold and an average target price of $15.65.

Lyft Stock Performance

Lyft stock opened at $12.41 on Monday. Lyft has a 52-week low of $8.85 and a 52-week high of $20.82. The company has a fifty day simple moving average of $11.62 and a 200-day simple moving average of $14.17. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, sell-side analysts predict that Lyft will post -0.09 EPS for the current year.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the transaction, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John Patrick Zimmer sold 7,188 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,664 shares of company stock worth $380,048 over the last three months. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after purchasing an additional 782,736 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Lyft by 1.5% during the second quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock worth $88,211,000 after purchasing an additional 94,710 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Lyft by 1.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock worth $113,126,000 after purchasing an additional 63,461 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after purchasing an additional 812,926 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Lyft by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock worth $22,580,000 after purchasing an additional 167,400 shares during the period. 83.07% of the stock is currently 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.