Lyft (NASDAQ:LYFT) had its price target cut to $12.00 by analysts at Wedbush

Lyft (NASDAQ:LYFT – Free Report) their price target was dropped by Wedbush from $19.00 to $12.00 in a research note on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the ride-sharing company’s stock.

Several other research firms have recently issued reports on LYFT. Tigress Financial boosted their price target on Lyft from $22.00 to $24.00 and gave the company a buy rating in a report on Thursday, April 18th. Barclays lifted their price target on shares of Lyft from $17.00 to $20.00 and gave the stock an equal weight rating in a research report on Wednesday, May 8th. Loop Capital upgraded shares of Lyft from a hold rating to a buy rating and set a $20.00 price objective on the stock in a report on Friday, June 7th. Royal Bank of Canada reaffirmed an outperform rating and set a $24.00 target price on shares of Lyft in a report on Friday, June 7th. Finally, Citigroup boosted their price target on shares of Lyft from $15.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lyft currently has a consensus rating of Hold and an average price target of $15.97, based on data from MarketBeat.com.

Read the latest stock report on LYFT

Lyft trading down 3.1%

Shares of NASDAQ LYFT opened at $9.76 on Thursday. Lyft has a 1 year low of $8.85 and a 1 year 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. The company has a 50 day moving average of $13.14 and a two hundred day moving average of $15.39. The company has a market cap of $3.94 billion, a PE ratio of -20.77 and a beta of 2.06.

Lyft (NASDAQ:LYFT – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The public transportation company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. Lyft’s revenue grew 40.6% year-over-year. In the same quarter last year, the company posted EPS of ($0.14). As a group, equities analysts expect that Lyft will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In related news, Chairman Kristin Sverchek sold 6,500 shares of Lyft stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $15.77, for a total value of $102,505.00. Following the sale, the chairman now owns 54,278 shares of the company’s stock, valued at approximately $855,964.06. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In other news, Director John Patrick Zimmer sold 3,327 shares of the company’s 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 owns 921,294 shares of the company’s stock, valued at $14,501,167.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, Chairman Kristin Sverchek sold 6,500 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $15.77, for a total transaction of $102,505.00. Following the completion of the transaction, the chairman now directly owns 54,278 shares of the company’s stock, valued at approximately $855,964.06. The disclosure for this sale can be found here. Insiders have sold 33,333 shares of company stock worth $518,714 over the last three months. Company insiders own 3.07% of the company’s shares.

Hedge funds weigh in on Lyft

Large investors have recently modified their holdings in the business. FinTrust Capital Advisors LLC boosted its holdings in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the transit company’s stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the transit company’s stock valued at $29,000 after buying an additional 1,672 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Lyft in the first quarter valued at $41,000. GAMMA Investing LLC boosted its holdings in Lyft by 42.9% in the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after buying an additional 664 shares in the last quarter. Finally, a16z Perennial Management LP bought a new stake in Lyft during the fourth quarter valued at $34,000. 83.07% of the shares are currently held by institutional investors and hedge funds.

About Lyft

(Get a free report)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that provide access to various transportation options through the Lyft platform and mobile apps. The company’s platform offers a ride-sharing marketplace that connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in different cities to meet the needs of riders for short trips.

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