Roth Mkm Lowers Lyft (NASDAQ:LYFT) Price Target to $13.00

Lyft (NASDAQ:LYFT) had its price objective trimmed by Roth Mkm from $19.00 to $13.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

Several other research analysts have also recently issued reports on LYFT. Tigress Financial increased their price objective on Lyft from $22.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Gordon Haskett raised Lyft from a hold rating to a buy rating and increased their price objective for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. Royal Bank of Canada dropped their price objective on Lyft from $24.00 to $17.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. TD Cowen dropped their target price on Lyft from $18.00 to $15.00 and set a hold rating on the stock in a research report on Thursday, August 8th. Finally, Melius Research initiated coverage on Lyft in a research report on Monday, July 22nd. They set a hold rating and a $15.00 target price on the stock. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lyft has a consensus rating of Hold and a consensus target price of $15.87.

Lyft Trading Up 3.6 %

Shares of LYFT stock opened at $11.20 on Wednesday. Lyft has a 1 year low of $8.85 and a 1 year high of $20.82. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $12.62 and its two-hundred day simple moving average is $15.29. The company has a market cap of $4.52 billion, a PE ratio of -23.83 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The company’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Research analysts predict that Lyft will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 7,923 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the transaction, the director now directly owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lyft news, President Kristin Sverchek sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $15.77, for a total value of $102,505.00. Following the sale, the president now owns 54,278 shares of the company’s stock, valued at $855,964.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 7,923 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $16.54, for a total transaction of $131,046.42. Following the completion of the transaction, the director now owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The disclosure for this sale can be found here. Insiders have sold 33,333 shares of company stock valued at $518,714 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after purchasing an additional 782,736 shares in the last quarter. Norges Bank acquired a new position in Lyft in the fourth quarter valued at $94,687,000. Primecap Management Co. CA boosted its stake in Lyft by 1.5% in the second quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock valued at $88,211,000 after acquiring an additional 94,710 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Lyft by 1.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after acquiring an additional 63,461 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lyft by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after acquiring an additional 141,823 shares in the last quarter. 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.