Lyft (NASDAQ:LYFT) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lyft (NASDAQ:LYFT) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $13.00 price objective on the ride-sharing company’s stock.

Several other equities analysts also recently weighed in on the stock. Bank of America upgraded shares of Lyft from an underperform rating to a buy rating and lifted their target price for the stock from $15.00 to $20.00 in a research note on Friday, June 7th. Susquehanna reduced their price target on Lyft from $18.00 to $10.00 and set a neutral rating for the company in a research report on Thursday, August 8th. Gordon Haskett upgraded Lyft from a hold rating to a buy rating and raised their target price for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. Loop Capital cut their price objective on shares of Lyft from $20.00 to $16.00 and set a buy rating for the company in a research report on Tuesday, September 3rd. Finally, Melius initiated coverage on shares of Lyft in a research note on Monday, July 22nd. They issued a hold rating and a $15.00 target price on the stock. Twenty-seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $15.65.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $13.35 on Monday. The company has a market capitalization of $5.48 billion, a P/E ratio of -28.40 and a beta of 2.04. The company’s 50-day moving average is $11.54 and its 200 day moving average is $14.59. 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 $8.85 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business’s revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share. On average, equities research analysts forecast that Lyft will post -0.16 earnings per share for the current year.

Insider Activity

In other news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $14.01, for a total value of $49,035.00. Following the transaction, the president now owns 50,778 shares in the company, valued at $711,399.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $14.01, for a total transaction of $49,035.00. Following the sale, the president now directly owns 50,778 shares of the company’s stock, valued at $711,399.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares in the company, 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 over the last three months. 3.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Lyft

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