Lyft (NASDAQ:LYFT) Given New $15.00 Price Target at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its target price cut by BMO Capital Markets from $18.00 to $15.00 in a report issued on Wednesday,Benzinga reports. They currently have a market perform rating on the ride-sharing company’s stock.

Other equities analysts have also recently issued reports about the stock. DA Davidson lifted their target price on shares of Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Bank of America lifted their price objective on shares of Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group decreased their target price on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Canaccord Genuity Group raised their price target on Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. Twenty-seven 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.31.

Lyft Stock Performance

Shares of LYFT stock opened at $13.25 on Wednesday. The stock’s 50-day moving average is $14.00 and its two-hundred day moving average is $13.52. 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 has a 1 year low of $8.93 and a 1 year high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results 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%. As a group, sell-side analysts forecast that Lyft will post 0.06 earnings per share for the current year.

Lyft announced that its board has approved a stock repurchase program on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Lyft

In other news, Director Logan Green sold 10,919 shares of the firm’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 transaction of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

A number of large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after acquiring an additional 2,302,248 shares during the last quarter. Paragon Capital Management Inc. acquired a new position in Lyft in the 4th quarter valued at about $1,681,000. KBC Group NV lifted its holdings in Lyft by 354.9% in the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock valued at $3,434,000 after purchasing an additional 207,672 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Lyft by 59.6% in the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after purchasing an additional 142,880 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Lyft by 10,225.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock worth $5,475,000 after purchasing an additional 420,274 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Company Profile

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.