Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, Susquehanna Analyst Says

Lyft (NASDAQ:LYFT) had its price target boosted by Susquehanna from $10.00 to $18.00 in a research note released on Monday,Benzinga reports. Susquehanna currently has a neutral rating on the ride-sharing company’s stock.

Several other research firms also recently weighed in on LYFT. Wolfe Research started coverage on shares of Lyft in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Bank of America lifted their price target on Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Jefferies Financial Group lifted their target price on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Roth Mkm increased their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.48.

Lyft Trading Up 0.8 %

Shares of Lyft stock opened at $17.92 on Monday. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a 50-day simple moving average of $13.36 and a two-hundred day simple moving average of $13.55.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Lyft’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.02) earnings per share. Equities research analysts forecast that Lyft will post 0.08 earnings per share for the current year.

Insider Activity

In related news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 764,332 shares of the company’s stock, valued at $8,988,544.32. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now owns 929,638 shares in the company, valued at $10,523,502.16. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,987 shares of company stock worth $619,025. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Lyft by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after acquiring an additional 782,736 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Lyft by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock worth $230,174,000 after buying an additional 80,675 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Lyft during the 3rd quarter valued at approximately $90,604,000. Primecap Management Co. CA lifted its position in Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock worth $82,768,000 after acquiring an additional 235,510 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Lyft by 1.1% in the 1st 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 purchasing an additional 63,461 shares during the last quarter. 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.