Lyft (NASDAQ:LYFT – Free Report) had its price target reduced by Wells Fargo & Company from $17.00 to $14.00 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the ride-sharing company’s stock.
A number of other equities research analysts have also weighed in on the stock. Morgan Stanley raised their price target on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. DA Davidson raised their target price on Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Loop Capital boosted their price target on Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America raised their price objective on Lyft from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald upped their target price on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.84.
Check Out Our Latest Research Report on LYFT
Lyft Stock Performance
Lyft (NASDAQ:LYFT – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The firm’s quarterly revenue was up 31.6% on a year-over-year basis. Sell-side analysts anticipate that Lyft will post 0.06 EPS for the current year.
Insider Buying and Selling
In other news, Director Logan Green sold 10,919 shares of the company’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 value of $188,352.75. Following the completion of the sale, the director now directly owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $427,330 in the last three months. 3.07% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Lyft
A number of institutional investors have recently added to or reduced their stakes in LYFT. True Wealth Design LLC bought a new stake in shares of Lyft in the 3rd quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in Lyft during the fourth quarter worth about $31,000. Brown Brothers Harriman & Co. bought a new stake in Lyft in the second quarter worth about $35,000. Capital Performance Advisors LLP bought a new position in shares of Lyft during the 3rd quarter valued at about $38,000. Finally, Quarry LP grew its stake in shares of Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after purchasing an additional 3,468 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.
Featured Stories
- Five stocks we like better than Lyft
- Trading Stocks: RSI and Why it’s Useful
- Top ETFs That Beat the Market in 2024 and Could Do It Again
- How to Invest in the FAANG Stocks
- J.B. Hunt Leads Truckers Lower: Buy Them While They’re Down?
- How to Use Stock Screeners to Find Stocks
- MarketBeat Week in Review – 01/13 – 01/17
Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.