Susquehanna Raises Lyft (NASDAQ:LYFT) Price Target to $18.00

Lyft (NASDAQ:LYFT) had its target price hoisted by Susquehanna from $10.00 to $18.00 in a research report report published on Monday,Benzinga reports. Susquehanna currently has a neutral rating on the ride-sharing company’s stock.

A number of other research firms have also issued reports on LYFT. Nomura raised Lyft from a “reduce” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $13.00 in a research note on Friday, August 23rd. Wedbush reiterated a “neutral” rating and issued a $20.00 target price (up previously from $12.00) on shares of Lyft in a report on Thursday, November 7th. Morgan Stanley boosted their target price on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Melius Research assumed coverage on shares of Lyft in a research note on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Finally, Barclays boosted their price objective on Lyft from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.48.

Lyft Stock Down 1.5 %

NASDAQ LYFT traded down $0.28 during trading hours on Monday, hitting $18.31. 1,340,172 shares of the company were exchanged, compared to its average volume of 15,091,045. The company has a 50 day moving average of $13.10 and a two-hundred day moving average of $13.51. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of -116.19 and a beta of 2.04. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. Equities research analysts anticipate that Lyft will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 7,188 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the transaction, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,664 shares of company stock worth $380,048. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently made changes to their positions in LYFT. Crossmark Global Holdings Inc. lifted its position in shares of Lyft by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock valued at $330,000 after buying an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Lyft by 9.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after purchasing an additional 1,160 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Lyft by 6.1% in the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock worth $350,000 after purchasing an additional 1,437 shares during the period. CWM LLC grew its holdings in Lyft by 26.4% during the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after buying an additional 1,457 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lyft by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after buying an additional 1,477 shares during the period. 83.07% of the stock is currently owned by institutional investors.

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.