Lyft (NASDAQ:LYFT) Price Target Cut to $14.00 by Analysts at Cantor Fitzgerald

Lyft (NASDAQ:LYFT) had its price target trimmed by Cantor Fitzgerald from $15.00 to $14.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

Other equities analysts have also issued reports about the company. BMO Capital Markets upped their target price on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Susquehanna increased their price target on shares of Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Tigress Financial lifted their price objective on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company reduced their target price on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, UBS Group lowered their price target on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Twenty-seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.31.

Lyft Stock Down 7.9 %

Shares of LYFT opened at $13.25 on Wednesday. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a 50 day moving average price of $14.00 and a two-hundred day moving average price of $13.52.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. On average, analysts forecast that Lyft will post 0.06 earnings per share for the current year.

Lyft announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Lyft

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Lyft in the third quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft during the 4th quarter valued at $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Lyft in the 4th quarter worth about $31,000. Plato Investment Management Ltd purchased a new position in Lyft during the 4th quarter valued at about $35,000. Finally, Byrne Asset Management LLC bought a new stake in Lyft during the fourth quarter worth about $35,000. Institutional investors own 83.07% of the company’s stock.

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.