Susquehanna Has Lowered Expectations for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its target price decreased by Susquehanna from $18.00 to $15.00 in a research note released on Thursday morning,Benzinga reports. Susquehanna currently has a neutral rating on the ride-sharing company’s stock.

A number of other equities analysts also recently weighed in on the stock. Truist Financial lowered their target price on shares of Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Cantor Fitzgerald decreased their target price on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday. Tigress Financial boosted their price target on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group raised their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Twenty-six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.22.

Lyft Stock Down 0.3 %

Shares of NASDAQ:LYFT opened at $13.43 on Thursday. The firm has a market cap of $5.57 billion, a P/E ratio of -83.94, a P/E/G ratio of 1.94 and a beta of 2.16. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The business has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $13.53. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Analysts predict that Lyft will post 0.06 earnings per share for the current year.

Lyft announced that its board has initiated a share repurchase program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Lyft

In related news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Several hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in Lyft in the 3rd quarter worth about $90,604,000. Renaissance Technologies LLC increased its stake in shares of Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock worth $111,240,000 after purchasing an additional 6,365,727 shares in the last quarter. Norges Bank bought a new stake in shares of Lyft in the fourth quarter valued at approximately $49,599,000. Maple Rock Capital Partners Inc. lifted its stake in shares of Lyft by 84.8% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock valued at $78,872,000 after buying an additional 2,838,000 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock worth $87,404,000 after buying an additional 2,240,478 shares during the period. 83.07% of the stock is currently owned by institutional investors.

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.