Cantor Fitzgerald Reaffirms Neutral Rating for Lyft (NASDAQ:LYFT)

Cantor Fitzgerald restated their neutral rating on shares of Lyft (NASDAQ:LYFT) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $13.00 target price on the ride-sharing company’s stock.

A number of other research analysts also recently weighed in on LYFT. Fox Advisors raised shares of Lyft from an equal weight rating to an overweight rating and set a $20.00 target price for the company in a research report on Friday, June 7th. Melius Research initiated coverage on Lyft in a research report on Monday, July 22nd. They issued a hold rating and a $15.00 target price on the stock. Nomura Securities upgraded Lyft from a strong sell rating to a hold rating in a report on Friday, August 23rd. Needham & Company LLC restated a hold rating on shares of Lyft in a research note on Wednesday, August 7th. Finally, Morgan Stanley upped their price objective on Lyft from $17.00 to $18.00 and gave the stock an equal weight rating in a research note on Friday, June 7th. Twenty-seven investment 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 stock. According to data from MarketBeat, Lyft currently has an average rating of Hold and an average price target of $15.65.

Lyft Price Performance

NASDAQ LYFT opened at $13.35 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of -28.40 and a beta of 2.04. The business has a 50 day simple moving average of $11.54 and a 200 day simple moving average of $14.59. Lyft has a 52-week low of $8.85 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business earned ($0.14) EPS. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Analysts anticipate that Lyft will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Logan Green sold 10,323 shares of the 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 transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The disclosure for this sale can be found here. Insiders sold 39,164 shares of company stock worth $470,513 in the last quarter. 3.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Large investors have recently added to or reduced their stakes in the business. Kodai Capital Management LP bought a new position in shares of Lyft in the fourth quarter valued at approximately $26,069,000. Bank of Nova Scotia bought a new position in Lyft during the 4th quarter valued at $21,433,000. Price T Rowe Associates Inc. MD boosted its holdings in Lyft by 592.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock worth $27,562,000 after acquiring an additional 1,218,620 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Lyft by 27,739.2% in the 2nd quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock worth $16,665,000 after acquiring an additional 1,188,625 shares in the last quarter. Finally, Ogborne Capital Management LLC purchased a new stake in shares of Lyft in the fourth quarter valued at about $14,990,000. Institutional investors own 83.07% of the company’s stock.

About Lyft

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.