Lyft (NASDAQ:LYFT) PT decreased to $13.00

Lyft (NASDAQ:LYFT – Get a Free Report) The price objective was decreased by analysts at Roth Mkm from $19.00 to $13.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the ride-hailing company’s stock. Roth Mkm’s price objective indicates a potential upside of 21.27% from the stock’s previous close.

Other equities research analysts have recently issued research reports on the stock. Tigress Financial upped their target price on shares of Lyft from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. TD Cowen decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Sanford C. Bernstein lifted their price target on shares of Lyft from $15.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group dropped their price objective on shares of Lyft from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, 8 August. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lyft currently has an average rating of “Hold” and an average price target of $15.87.

Get the latest report on Lyft

Lyft stock down 0.8%

NASDAQ:LYFT opened at $10.72 on Wednesday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -23.00 and a beta of 2.06. The stock’s fifty day moving average is $12.71, and the two hundred day moving average is $15.29. The company has a quick ratio of 0.82, a current ratio of 0.82, and a debt-to-equity ratio of 1.92. Lyft has a 52-week low of $8.85 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT – Get Your Free Report ) last posted its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. Lyft’s revenue for the quarter was up 40.6% compared to the same quarter last year. In the same quarter last year, the company posted ($0.14) earnings per share. research analysts anticipate that Lyft will post -0.18 EPS for the current year.

Insiders place their bets

In other news, Director John Patrick Zimmer sold 7,923 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the completion of the sale, the director now directly owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director John Patrick Zimmer sold 7,923 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the completion of the sale, the director now directly owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Kristin Sverchek sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the sale, the chairman now directly owns 47,778 shares of the company’s stock, valued at $659,814.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,333 shares of company stock worth $518,714. Insiders own 3.07% of the company’s shares.

Institutional Trading of Lyft

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Lyft in the 4th quarter valued at about $94,687,000. Kodai Capital Management LP acquired a new position in Lyft in the 4th quarter valued at approximately $26,069,000. Bank of Nova Scotia purchased a new position in Lyft in the 4th quarter valued at about $21,433,000. Price T Rowe Associates Inc. MD raised its stake in shares of Lyft by 592.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the transit company’s stock worth $27,562,000 after purchasing an additional 1,218,620 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Lyft by 27,739.2% in the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the transit company’s stock worth $16,665,000 after purchasing an additional 1,188,625 shares in the last quarter. 83.07% of shares are owned 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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