Lyft (NASDAQ:LYFT) Given New $18.00 Price Target at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its price target boosted by investment analysts at BMO Capital Markets from $15.00 to $18.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the ride-sharing company’s stock. BMO Capital Markets’ price target indicates a potential upside of 4.41% from the company’s previous close.

Several other analysts have also recently commented on LYFT. UBS Group raised their target price on shares of Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Moffett Nathanson raised Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research note on Wednesday. TD Cowen upped their price objective on Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a report on Monday, January 22nd. Finally, DA Davidson boosted their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.70.

Lyft Stock Performance

NASDAQ LYFT opened at $17.24 on Wednesday. The business’s 50-day moving average price is $17.82 and its 200 day moving average price is $14.62. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55. The firm has a market cap of $6.89 billion, a P/E ratio of -36.68 and a beta of 2.05. Lyft has a 52-week low of $7.85 and a 52-week high of $20.82.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, equities research analysts expect that Lyft will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now owns 633,950 shares in the company, valued at $9,521,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $15.69, for a total value of $186,193.23. Following the transaction, the director now owns 346,341 shares of the company’s stock, valued at approximately $5,434,090.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total transaction of $85,163.40. Following the sale, the president now directly owns 633,950 shares of the company’s stock, valued at $9,521,929. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,526 shares of company stock valued at $5,358,031. Insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Lyft during the 4th quarter valued at about $94,687,000. Kodai Capital Management LP acquired a new position in shares of Lyft during the fourth quarter worth $26,069,000. Bank of Nova Scotia purchased a new position in shares of Lyft in the fourth quarter valued at $21,433,000. Vanguard Group Inc. grew its holdings in Lyft by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after purchasing an additional 1,135,036 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Lyft by 126.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after buying an additional 1,080,009 shares during the period. Institutional investors and hedge funds 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.