Lyf (NASDAQ:LYFT – Get a rating) saw its target price reduced by BTIG Research from $60.00 to $20.00 in a report on Tuesday, Fly reports. The brokerage currently has a buy rating on the shares of the rideshare company.
LYFT has been the subject of several other reports. Cowen lowered his price target on Lyft shares from $68.00 to $42.00 and set an outperform rating for the company in a Wednesday, May 4 research note. Royal Bank of Canada lowered its target price on Lyft shares from $50.00 to $42.00 in a Wednesday, May 4, report. Sanford C. Bernstein assumed coverage of Lyft stock in a report on Tuesday, May 24. They issued a market yield rating and a price target of $22.00 on the stock. Argus lowered its price target on Lyft stock from $72.00 to $41.00 in a Monday, May 16 report. Finally, MKM Partners lowered its price target on Lyft shares from $49.00 to $32.00 in a Wednesday, May 4 report. Eleven equity research analysts gave the stock a hold rating and sixteen gave the company a buy rating. Based on data from MarketBeat, Lyft has a Moderate Buy consensus rating and a consensus price target of $42.48.
Lyft stock performance
Shares of LYFT Stock opened at $13.66 on Tuesday. Lyft has a one-year low of $11.96 and a one-year high of $57.76. The company has a debt ratio of 0.68, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50-day moving average price of $15.83 and a 200-day moving average price of $29.61. The company has a market capitalization of $4.76 billion, a price-earnings ratio of -5.97 and a beta of 1.88.
Lyf (NASDAQ:LYFT – Get a rating) last released its quarterly results on Tuesday, May 3. The rideshare company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.21. Lyft had a negative net margin of 22.42% and a negative return on equity of 50.06%. The company posted revenue of $875.60 million in the quarter, compared to analyst estimates of $845.91 million. In the same quarter a year earlier, the company posted ($0.86) earnings per share. Lyft’s revenue for the quarter increased 43.8% from the same quarter last year. Sell-side analysts expect Lyft to post -1.87 EPS for the current year.
Lyft Institutional Commerce
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lyft by 1.9% in Q1. Vanguard Group Inc. now owns 25,428,704 shares of the ride-sharing company worth $976,462,000 after buying an additional 483,630 shares last quarter. Clearbridge Investments LLC increased its stake in Lyft by 46.4% in Q1. Clearbridge Investments LLC now owns 6,470,972 shares of the rideshare company valued at $248,485,000 after purchasing an additional 2,050,430 shares during the period. American Century Companies Inc. increased its stake in Lyft by 25.9% in Q1. American Century Companies Inc. now owns 6,068,020 shares of the rideshare company valued at $233,012,000 after purchasing an additional 1,249,383 shares during the period. Geode Capital Management LLC increased its stake in Lyft by 5.8% in Q4. Geode Capital Management LLC now owns 3,820,320 shares of the rideshare company valued at $163,038,000 after purchasing an additional 210,699 shares during the period. Finally, Paradigm Financial Partners LLC increased its stake in Lyft by 600.0% in the 4th quarter. Paradigm Financial Partners LLC now owns 2,357,411 shares of the rideshare company valued at $104,905,000 after purchasing an additional 2,020,638 shares during the period. Institutional investors and hedge funds hold 80.43% of the company’s shares.
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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