Lyft's (LYFT) "Neutral" Rating Reiterated at Susquehanna

Key Points

• Lyft's stock rating was reaffirmed as "neutral" by Susquehanna, with a revised price target of $14.00, indicating a potential upside of 4.31% from its current price.
• Goldman Sachs upgraded Lyft from "neutral" to "buy" with a $20.00 target price, while Wells Fargo and Barclays also raised their price targets to $15.00 and $20.00, respectively.
• Lyft reported earnings of $0.10 per share for the last quarter, falling short of analysts' expectations, with a year-over-year revenue increase of 10.6%.

Lyft (NASDAQ:LYFT - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Susquehanna in a research report issued on Monday, MarketBeat.com reports. They currently have a $14.00 price target on the ride-sharing company's stock, down from their previous price target of $18.00. Susquehanna's target price suggests a potential upside of 4.01% from the stock's current price.

Several other analysts also recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Wells Fargo & Company lifted their price objective on shares of Lyft from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Friday. Morgan Stanley lowered their target price on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Oppenheimer cut their target price on shares of Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price target on shares of Lyft in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $16.70.

Lyft Stock Performance

NASDAQ LYFT traded up $0.05 during trading hours on Monday, hitting $13.46. 19,417,092 shares of the company's stock traded hands, compared to its average volume of 18,062,736. Lyft has a 52 week low of $9.53 and a 52 week high of $19.07. The business's fifty day moving average price is $14.99 and its two-hundred day moving average price is $13.75. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.63 billion, a P/E ratio of 56.09, a P/E/G ratio of 2.93 and a beta of 2.26.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. Equities research analysts predict that Lyft will post 0.22 EPS for the current year.

Insider Buying and Selling

In other Lyft news, Director Jill Beggs sold 1,572 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the sale, the director directly owned 20,467 shares of the company's stock, valued at $335,863.47. The trade was a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John David Risher acquired 6,538 shares of the stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the completion of the transaction, the chief executive officer owned 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. Neuberger Berman Group LLC lifted its holdings in Lyft by 3.7% during the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company's stock worth $290,000 after buying an additional 868 shares during the period. Amalgamated Bank raised its position in shares of Lyft by 4.0% in the 1st quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock worth $277,000 after acquiring an additional 892 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Lyft by 11.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock worth $107,000 after purchasing an additional 914 shares during the last quarter. Guggenheim Capital LLC boosted its position in Lyft by 6.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after purchasing an additional 970 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Lyft by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock valued at $1,081,000 after purchasing an additional 1,132 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

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.