DA Davidson Cuts Lyft (NASDAQ:LYFT) Price Target to $15.00

Lyft (NASDAQ:LYFT) had its price objective trimmed by DA Davidson from $16.00 to $15.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

A number of other equities analysts have also issued reports on LYFT. Wedbush lowered their target price on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Susquehanna raised their price objective on shares of Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Barclays reduced their target price on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday. Canaccord Genuity Group raised their price target on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets reduced their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday. Twenty-six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.22.

Lyft Price Performance

Shares of LYFT opened at $13.43 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82. The stock 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. The firm has a fifty day moving average price of $13.88 and a 200 day moving average price of $13.52.

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

Lyft declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated 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 directly owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Several large investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV raised its position in shares of Lyft by 90.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,544 shares of the ride-sharing company’s stock worth $368,000 after purchasing an additional 13,528 shares during the last quarter. Westerly Capital Management LLC increased its position in Lyft by 50.0% during the fourth quarter. Westerly Capital Management LLC now owns 375,000 shares of the ride-sharing company’s stock worth $4,838,000 after buying an additional 125,000 shares in the last quarter. PDT Partners LLC acquired a new position in shares of Lyft in the fourth quarter worth $4,309,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Lyft by 194.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 502,563 shares of the ride-sharing company’s stock valued at $6,483,000 after acquiring an additional 331,792 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Lyft by 60.9% during the fourth quarter. AQR Capital Management LLC now owns 4,823,906 shares of the ride-sharing company’s stock valued at $62,228,000 after acquiring an additional 1,825,761 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

About Lyft

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.