Roth Mkm Forecasts Strong Price Appreciation for Lyft (NASDAQ:LYFT) Stock

Lyft (NASDAQ:LYFT) had its price target boosted by Roth Mkm from $13.00 to $16.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the ride-sharing company’s stock. Roth Mkm’s price target points to a potential downside of 12.71% from the company’s current price.

A number of other research firms also recently commented on LYFT. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research report on Friday, October 18th. Loop Capital decreased their target price on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Truist Financial upped their price target on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Melius Research initiated coverage on shares of Lyft in a report on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price for the company. Twenty-eight equities 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. Based on data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus price target of $16.74.

Lyft Stock Up 27.3 %

Lyft stock traded up $3.93 during trading on Thursday, reaching $18.33. The stock had a trading volume of 34,458,465 shares, compared to its average volume of 14,875,382. 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 has a 52-week low of $8.93 and a 52-week high of $20.82. The stock has a market cap of $7.52 billion, a PE ratio of -113.69 and a beta of 2.04. The business has a 50 day moving average price of $12.71 and a 200 day moving average price of $13.50.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 1.27% and a negative return on equity of 8.57%. The company’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. On average, analysts predict that Lyft will post -0.06 EPS for the current year.

Insider Transactions at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 932,062 shares of the company’s stock, valued at $10,625,506.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock valued at $380,048 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its position 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 during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after purchasing an additional 1,160 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Lyft by 6.1% in the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after buying an additional 1,437 shares during the last quarter. CWM LLC raised its stake in Lyft by 26.4% during the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after buying an additional 1,457 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Lyft by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock worth $2,612,000 after buying an additional 1,477 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.