Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Lyft (NASDAQ:LYFT) Stock Price

Key Points

• Deutsche Bank Aktiengesellschaft has raised Lyft's price target from $16.00 to $21.00, maintaining a "hold" rating despite indicating a potential downside of 8.06% from the current stock price.
• Lyft recently reported a missed earnings per share estimate of $0.10, compared to a consensus estimate of $0.27, with revenue of $1.59 billion for the quarter, slightly below the expected $1.61 billion.
• Insider trading activity includes significant stock sales by insider Lindsay Catherine Llewellyn, while CEO John David Risher has increased their stake in the company by purchasing shares.

Lyft (NASDAQ:LYFT - Free Report) had its price objective raised by Deutsche Bank Aktiengesellschaft from $16.00 to $21.00 in a research note published on Thursday morning, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the ride-sharing company's stock.

Several other research firms also recently commented on LYFT. Citigroup reaffirmed a "hold" rating and set a $14.00 price objective (down from $22.00) on shares of Lyft in a research note on Friday, June 27th. Wells Fargo & Company raised their price objective on Lyft from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. Tigress Financial reaffirmed a "buy" rating and set a $28.00 target price (up from $26.00) on shares of Lyft in a report on Wednesday, May 21st. Wall Street Zen downgraded Lyft from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Morgan Stanley increased their price objective on Lyft from $19.00 to $20.50 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Nine equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.52.

Lyft Trading Down 0.2%

Lyft stock traded down $0.05 during mid-day trading on Thursday, hitting $22.53. The company's stock had a trading volume of 13,239,465 shares, compared to its average volume of 19,047,875. Lyft has a one year low of $9.66 and a one year high of $23.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The company has a 50 day moving average of $16.11 and a 200-day moving average of $14.56. The stock has a market cap of $9.16 billion, a PE ratio of 93.78, a P/E/G ratio of 3.53 and a beta of 2.33.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.Lyft's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, research analysts anticipate that Lyft will post 0.22 EPS for the current year.

Insider Transactions at Lyft

In other news, CEO John David Risher purchased 5,926 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $16.88 per share, with a total value of $100,030.88. Following the acquisition, the chief executive officer owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the transaction, the insider directly owned 835,782 shares in the company, valued at approximately $16,715,640. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,427 shares of company stock valued at $1,252,686. Company insiders own 3.07% of the company's stock.

Institutional Investors Weigh In On Lyft

Several hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC increased its holdings in Lyft by 8.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,458,557 shares of the ride-sharing company's stock worth $18,815,000 after acquiring an additional 109,434 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Lyft in the fourth quarter valued at approximately $157,000. Toronto Dominion Bank purchased a new stake in shares of Lyft in the fourth quarter valued at approximately $279,000. Worldquant Millennium Advisors LLC increased its position in shares of Lyft by 865.3% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 334,629 shares of the ride-sharing company's stock worth $4,317,000 after purchasing an additional 299,962 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in Lyft by 722.6% in the 4th quarter. Voloridge Investment Management LLC now owns 211,161 shares of the ride-sharing company's stock valued at $2,724,000 after buying an additional 185,490 shares in the last quarter. 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.