Lyft (NASDAQ:LYFT) Rating Reiterated by Cantor Fitzgerald

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

A number of other equities analysts have also weighed in on LYFT. Nomura Securities upgraded shares of Lyft from a strong sell rating to a hold rating in a research report on Friday, August 23rd. Raymond James started coverage on shares of Lyft in a research note on Tuesday, September 24th. They set a market perform rating on the stock. Wells Fargo & Company decreased their price target on shares of Lyft from $17.00 to $12.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Wedbush decreased their price target on shares of Lyft from $19.00 to $12.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Finally, Roth Mkm decreased their price target on shares of Lyft from $19.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, August 14th. Twenty-six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $15.65.

Lyft Price Performance

LYFT opened at $12.41 on Monday. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The company has a 50 day simple moving average of $11.62 and a two-hundred day simple moving average of $14.17. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Lyft’s revenue for the quarter was up 40.6% on a year-over-year basis. As a group, equities analysts anticipate that Lyft will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the 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 directly owns 929,638 shares in the company, valued at $10,523,502.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the transaction, the insider now owns 764,332 shares of the company’s stock, valued at $8,988,544.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock worth $380,048 in the last three months. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Several large investors have recently bought and sold shares of LYFT. FinTrust Capital Advisors LLC grew its position in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Lyft during the 4th quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new stake in Lyft during the 2nd quarter valued at approximately $35,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft during the 2nd quarter valued at approximately $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Lyft during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Company Profile

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.