Lyft (NASDAQ:LYFT) Price Target Lowered to $19.00 at Bank of America

Lyft (NASDAQ:LYFT) had its target price decreased by Bank of America from $21.00 to $19.00 in a research report sent to investors on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the ride-sharing company’s stock.

A number of other analysts have also recently commented on the stock. UBS Group boosted their target price on shares of Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Barclays raised their price objective on Lyft from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. TD Cowen increased their target price on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Wedbush lowered their price target 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. Finally, Wells Fargo & Company decreased their target price on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.84.

Lyft Price Performance

Shares of LYFT opened at $13.43 on Wednesday. The company has a market capitalization of $5.57 billion, a P/E ratio of -83.94, a P/E/G ratio of 1.74 and a beta of 2.14. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The business’s 50-day moving average is $14.63 and its two-hundred day moving average is $13.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Research analysts predict that Lyft will post 0.06 earnings per share for the current year.

Insiders Place Their Bets

In other Lyft news, Director Logan Green sold 10,919 shares of the business’s 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 completion of the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the completion of the transaction, the insider now directly owns 755,847 shares in the company, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,242 shares of company stock worth $427,330 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new position in Lyft during the 3rd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft in the fourth quarter valued at $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Lyft during the fourth quarter worth about $31,000. Byrne Asset Management LLC purchased a new position in shares of Lyft during the fourth quarter worth about $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in Lyft during the 3rd quarter valued at approximately $38,000. 83.07% of the stock is 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.