Lyft's (LYFT) "Market Perform" Rating Reaffirmed at BMO Capital Markets

Key Points

• BMO Capital Markets has raised Lyft's price target from $15.00 to $16.00, indicating a potential upside of 13.99% from current levels.
• Lyft recently reported earnings of $0.10 per share, missing estimates by $0.17, with revenues of $1.59 billion falling short of expectations.
• The majority of analysts currently maintain a "Hold" rating on Lyft, with a consensus average target price of $17.09.

BMO Capital Markets restated their market perform rating on shares of Lyft (NASDAQ:LYFT - Free Report) in a research report released on Thursday morning, Marketbeat Ratings reports. They currently have a $16.00 target price on the ride-sharing company's stock, up from their previous target price of $15.00.

A number of other equities analysts have also recently issued reports on LYFT. Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 price objective on shares of Lyft in a research report on Thursday, June 5th. UBS Group boosted their price target on Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Wells Fargo & Company increased their price objective on Lyft from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Oppenheimer lifted their price objective on Lyft from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Sanford C. Bernstein boosted their target price on Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Lyft presently has an average rating of "Hold" and an average price target of $16.64.

Lyft Trading Down 5.5%

LYFT traded down $0.79 on Thursday, hitting $13.42. 24,297,227 shares of the company were exchanged, compared to its average volume of 17,530,690. The firm has a fifty day simple moving average of $15.03 and a two-hundred day simple moving average of $13.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. Lyft has a 12 month low of $9.53 and a 12 month high of $19.07. The stock has a market capitalization of $5.61 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 2.79 and a beta of 2.26.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.22% and a net margin of 1.51%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts expect that Lyft will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jill Beggs sold 1,572 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the transaction, the director owned 20,467 shares of the company's stock, valued at $335,863.47. This trade represents 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, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $15.80, for a total value of $38,299.20. Following the completion of the sale, the director directly owned 879,498 shares in the company, valued at $13,896,068.40. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

Institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC raised its position in Lyft by 3.7% in the 1st 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 last quarter. Amalgamated Bank grew its stake in shares of Lyft by 4.0% in the first quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock worth $277,000 after acquiring an additional 892 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of Lyft by 11.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock valued at $107,000 after purchasing an additional 914 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of 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 during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Lyft by 1.4% during 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 period. 83.07% of the stock is owned by hedge funds and other 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.