Lyft (NASDAQ:LYFT) Given New $18.00 Price Target at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its target price hoisted by BMO Capital Markets from $13.00 to $18.00 in a research note issued to investors on Thursday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the ride-sharing company’s stock.

LYFT has been the topic of several other research reports. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Lyft in a research report on Friday, October 18th. Canaccord Genuity Group cut their price target on shares of Lyft from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI lifted their price objective on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday. Raymond James initiated coverage on shares of Lyft in a research report on Tuesday, September 24th. They set a “market perform” rating on the stock. Finally, Nomura Securities upgraded Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.23.

Lyft Trading Up 0.5 %

NASDAQ:LYFT traded up $0.09 during mid-day trading on Thursday, hitting $17.78. 28,803,876 shares of the stock traded hands, compared to its average volume of 15,121,569. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of -111.13 and a beta of 2.04. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82. The firm’s 50 day moving average is $12.96 and its two-hundred day moving average is $13.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities research analysts predict that Lyft will post -0.06 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the sale, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total value of $50,916.00. Following the completion of the transaction, the insider now directly owns 760,089 shares in the company, valued at approximately $9,121,068. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,664 shares of company stock worth $380,048. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank lifted its stake in Lyft by 2.0% during the 1st quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock valued at $13,218,000 after acquiring an additional 13,300 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Lyft in the first quarter valued at $41,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Lyft by 430.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock worth $75,000 after purchasing an additional 3,154 shares during the period. CWM LLC raised its stake in shares of Lyft by 26.4% during the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after buying an additional 1,457 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Lyft by 310.3% in the 1st quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after buying an additional 77,578 shares during the period. 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.