Lyft (NASDAQ:LYFT) Given New $15.00 Price Target at Susquehanna

Lyft (NASDAQ:LYFT) had its price target decreased by Susquehanna from $18.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the ride-sharing company’s stock. Susquehanna’s price objective indicates a potential upside of 13.21% from the company’s current price.

LYFT has been the topic of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research note on Wednesday. Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, January 6th. Royal Bank of Canada cut their price objective on Lyft from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday. BMO Capital Markets reduced their price objective on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, DA Davidson dropped their target price on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and a consensus price target of $17.22.

Lyft Trading Down 7.9 %

Lyft stock opened at $13.25 on Thursday. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The stock has a market capitalization of $5.50 billion, a PE ratio of -82.81, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16. The firm has a 50 day simple moving average of $13.92 and a 200-day simple moving average of $13.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

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 analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. As a group, equities research analysts expect that Lyft will post 0.06 EPS for the current fiscal year.

Lyft declared that its Board of Directors has approved a share buyback plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares of the company’s stock, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.07% of the stock is owned by company insiders.

Institutional Trading of Lyft

A number of institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC acquired a new position in Lyft in the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lyft during the fourth quarter valued at about $29,000. ORG Wealth Partners LLC bought a new stake in Lyft during the fourth quarter valued at about $31,000. Plato Investment Management Ltd acquired a new stake in shares of Lyft in the fourth quarter valued at about $35,000. Finally, Byrne Asset Management LLC bought a new position in shares of Lyft in the fourth quarter worth about $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.