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.
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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.
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