Loop Capital Cuts Lyft (NASDAQ:LYFT) Price Target to $20.00

Lyft (NASDAQ:LYFT) had its price objective reduced by Loop Capital from $23.00 to $20.00 in a research report released on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the ride-sharing company’s stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research note on Wednesday, February 12th. Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, January 6th. Truist Financial lowered their price target on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. Barclays lowered their price target on Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Lyft from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Twenty-six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lyft has a consensus rating of “Hold” and a consensus target price of $17.03.

Lyft Trading Up 0.3 %

Lyft stock opened at $11.75 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The business’s 50-day simple moving average is $13.07 and its 200-day simple moving average is $13.77. The firm has a market capitalization of $4.91 billion, a PE ratio of 195.83, a PEG ratio of 1.90 and a beta of 2.15. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Equities research analysts forecast that Lyft will post 0.22 earnings per share for the current year.

Lyft declared that its board has authorized a stock repurchase program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,407 shares of company stock worth $203,778. Insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Institutional investors and hedge funds have recently made changes to their positions in the business. Spurstone Advisory Services LLC bought a new stake in shares of Lyft during the 4th quarter valued at $25,000. True Wealth Design LLC bought a new stake in shares of Lyft in the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft in the 4th quarter valued at $29,000. ORG Wealth Partners LLC bought a new stake in shares of Lyft in the 4th quarter valued at $31,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Lyft in the 4th quarter valued at $35,000. 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.