Jefferies Financial Group Raises Lyft (NASDAQ:LYFT) Price Target to $13.00

Lyft (NASDAQ:LYFT) had its price target increased by Jefferies Financial Group from $10.50 to $13.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the ride-sharing company’s stock.

LYFT has been the topic of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Wednesday, August 7th. Royal Bank of Canada cut their target price on Lyft from $24.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays reduced their target price on shares of Lyft from $20.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Roth Mkm lowered their price target on shares of Lyft from $19.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, Truist Financial reduced their price objective on shares of Lyft from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twenty-six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.59.

Lyft Stock Up 0.9 %

Shares of NASDAQ:LYFT opened at $13.78 on Tuesday. Lyft has a 52-week low of $8.85 and a 52-week high of $20.82. The stock has a market cap of $5.56 billion, a P/E ratio of -29.32 and a beta of 2.04. The business’s 50 day moving average is $12.27 and its 200 day moving average is $13.80. 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 quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Lyft’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts predict that Lyft will post -0.09 EPS for the current year.

Insider Activity

In related news, Director Logan Green sold 10,323 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the sale, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Logan Green sold 10,323 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the sale, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,664 shares of company stock valued at $380,048 in the last ninety days. Insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

A number of hedge funds have recently added to or reduced their stakes in LYFT. Vanguard Group Inc. raised its position in Lyft by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 32,116,655 shares of the ride-sharing company’s stock worth $481,429,000 after acquiring an additional 659,133 shares during the period. GAMMA Investing LLC raised its position in Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after acquiring an additional 664 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Lyft during the first quarter worth $41,000. Principal Financial Group Inc. raised its position in Lyft by 525.4% during the first quarter. Principal Financial Group Inc. now owns 222,685 shares of the ride-sharing company’s stock worth $4,309,000 after acquiring an additional 187,078 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in Lyft by 15.1% during the first quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock worth $767,000 after acquiring an additional 5,184 shares during the period. 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.