Lyft (NASDAQ:LYFT) Stock Gets Price Target Cut from Cantor Fitzgerald

by · The Markets Daily

Lyft (NASDAQ:LYFT – Free Report) had its price objective reduced by Cantor Fitzgerald from $17.00 to $15.00 in a report issued on Monday, MarketBeat reports. Cantor Fitzgerald currently has a neutral rating on the ride-sharing company’s stock.

A number of other research firms have also recently weighed in on LYFT. Rosenblatt Securities assumed coverage on Lyft in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $19.00 price target on the stock. Jefferies Financial Group raised their price target on Lyft from $15.00 to $15.50 and gave the company a “hold” rating in a report on Tuesday, July 14th. UBS Group lifted their price objective on shares of Lyft from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Canaccord Genuity Group upped their price objective on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Lyft in a report on Tuesday, August 18th. Eleven analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and an average price target of $19.20.

View Our Latest Stock Report on LYFT

Lyft Stock Performance

Shares of NASDAQ LYFT opened at $16.79 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The business’s 50 day moving average price is $16.27 and its two-hundred day moving average price is $15.17. Lyft has a twelve month low of $12.46 and a twelve month high of $25.54.

Lyft (NASDAQ:LYFT – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts predict that Lyft will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, Director Janey Whiteside sold 14,220 shares of Lyft stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $17.00, for a total transaction of $241,740.00. Following the completion of the sale, the director directly owned 66,184 shares of the company’s stock, valued at approximately $1,125,128. This trade represents a 17.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Llewellyn sold 36,214 shares of Lyft stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $16.14, for a total value of $584,493.96. Following the sale, the insider directly owned 817,517 shares of the company’s stock, valued at approximately $13,194,724.38. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 112,020 shares of company stock valued at $1,850,559 in the last ninety days. 0.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new position in Lyft during the 2nd quarter worth $27,000. Boreal Capital Management LLC bought a new stake in shares of Lyft in the first quarter valued at about $31,000. Bessemer Group Inc. boosted its position in shares of Lyft by 1,851.9% in the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock valued at $35,000 after acquiring an additional 2,500 shares during the period. Ascentis Independent Advisors bought a new stake in shares of Lyft in the first quarter valued at about $43,000. Finally, Parallel Advisors LLC grew its stake in shares of Lyft by 47.0% in the first quarter. Parallel Advisors LLC now owns 4,650 shares of the ride-sharing company’s stock valued at $62,000 after acquiring an additional 1,487 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Company Profile

(Get Free Report)

Lyft, Inc is a technology company that operates a transportation network platform in the United States and Canada. Its platform connects passengers with drivers through a mobile application and website, primarily offering on-demand rides in private vehicles, taxis and other transportation options.

The company also provides access to bicycles and scooters in select markets, as well as vehicle rentals and transportation solutions for businesses, healthcare organizations and other institutions.

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