Lyft (NASDAQ:LYFT – Get a rating) saw its price target lowered by research analysts DA Davidson from $60.00 to $27.00 in a research report released on Thursday, Fly reports. DA Davidson’s price target indicates a potential upside of 22.01% from the stock’s previous close.
LYFT has been the subject of a number of other research reports. Wolfe Research lowered its price target on Lyft from $46.00 to $45.00 and set a “peer performance” rating on the stock in a Wednesday, Feb. 9 research report. Wedbush lowered its target price on Lyft from $50.00 to $32.00 in a research report Wednesday. Truist Financial cut its target price on Lyft from $58.00 to $50.00 in a research report on Wednesday. Canaccord Genuity Group cut its target price on Lyft from $58.00 to $52.00 in a research report Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut its target price on Lyft from $43.00 to $28.00 in a Wednesday research report. Eleven equity research analysts gave the stock a hold rating and seventeen gave the stock a buy rating. According to MarketBeat.com, the stock has a consensus buy rating and an average price target of $51.83.
Lyft stock traded down $0.57 during Thursday’s midday session, hitting $22.13. The company had a trading volume of 506,108 shares, compared to its average volume of 4,758,415. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt ratio of 0. .47. Lyft has a 12-month low of $20.02 and a 12-month high of $63.07. The company’s fifty-day moving average is $35.84 and its 200-day moving average is $40.68. The company has a market capitalization of $7.71 billion, a price-earnings ratio of -9.71 and a beta of 1.79.
Lyft (NASDAQ:LYFT – Get a rating) last released its quarterly earnings data on Tuesday, May 3. The rideshare company reported EPS of $0.07 for the quarter, beating Thomson Reuters consensus estimate of $0.07 ($0.07) by $0.14. Lyft had a negative return on equity of 57.94% and a negative net margin of 31.46%. The company posted revenue of $875.60 million for the quarter, versus analyst estimates of $845.91 million. In the same quarter of the previous year, the company posted EPS of ($0.86). The company’s quarterly revenue increased by 43.8% compared to the same quarter last year. As a group, sell-side analysts expect Lyft to post -1.58 EPS for the current fiscal year.
In related news, insider Kristin Sverchek sold 3,938 shares of the company in a transaction dated Tuesday, March 29. The stock was sold at an average price of $40.00, for a total transaction of $157,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Insiders of the company own 5.77% of the shares of the company.
A number of institutional investors have recently changed their positions in the stock. Aubrey Capital Management Ltd bought a new position in Lyft during Q1 worth around $630,000. MCF Advisors LLC bought a new position in Lyft stock in Q1 worth about $25,000. Russell Investments Group Ltd. increased its stake in Lyft stock by 13.7% in Q1. Russell Investments Group Ltd. now owns 190,556 shares of the rideshare company valued at $7,316,000 after purchasing an additional 22,943 shares during the period. Summit X LLC bought a new position in Lyft stock in Q1 worth about $222,000. Finally, HCR Wealth Advisors increased its stake in Lyft shares by 18.8% in the 1st quarter. HCR Wealth Advisors now owns 28,371 shares of the rideshare company valued at $1,089,000 after purchasing an additional 4,497 shares during the period. Institutional investors hold 80.43% of the company’s shares.
About Lyft (Get a rating)
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that provide riders with personalized, on-demand access to a variety of mobility options. It supplies the carpooling market, which connects drivers with passengers; Express Drive, a flexible car rental program for drivers; Lyft Rentals, which provides vehicles for long-distance trips; and a network of shared bicycles and scooters in different cities to meet the needs of cyclists for short trips.
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Lyft right now?
Before you consider Lyft, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes viral…and Lyft wasn’t on the list.
Although Lyft currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here