Susquehanna Issues Positive Forecast for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its price target lifted by Susquehanna from $10.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the ride-sharing company’s stock.

LYFT has been the subject of a number of other research reports. Jefferies Financial Group lifted their price target on Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson increased their price target on shares of Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Raymond James started coverage on Lyft in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Roth Mkm boosted their price target on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, TD Cowen increased their price objective on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.48.

Lyft Stock Down 1.5 %

Shares of NASDAQ:LYFT traded down $0.28 during trading on Monday, hitting $18.31. The company’s stock had a trading volume of 1,340,172 shares, compared to its average volume of 15,091,045. The business has a 50 day moving average price of $13.10 and a two-hundred day moving average price of $13.51. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a market capitalization of $7.51 billion, a PE ratio of -116.19 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company posted ($0.02) earnings per share. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. As a group, research analysts expect that Lyft will post -0.06 EPS for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the firm’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 transaction of $27,439.68. Following the sale, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Logan Green sold 10,323 shares of the company’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 transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,664 shares of company stock worth $380,048 over the last ninety days. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LYFT. Vanguard Group Inc. boosted its position in Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after purchasing an additional 782,736 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after purchasing an additional 235,510 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Lyft by 1.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after buying an additional 63,461 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Lyft by 39.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after purchasing an additional 812,926 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Lyft by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock valued at $22,580,000 after buying an additional 167,400 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Company Profile

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.