Lyft (NASDAQ:LYFT - Get Free Report) had its target price boosted by equities researchers at Oppenheimer from $17.00 to $24.00 in a report released on Wednesday, MarketBeat reports. The brokerage currently has an "outperform" rating on the ride-sharing company's stock. Oppenheimer's price objective would indicate a potential upside of 9.29% from the company's previous close.
Other analysts also recently issued reports about the company. Wall Street Zen downgraded Lyft from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Canaccord Genuity Group reduced their price objective on Lyft from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company upped 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. UBS Group upped their price objective on Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Finally, Susquehanna reduced their price objective on Lyft from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lyft has a consensus rating of "Hold" and an average target price of $18.30.
View Our Latest Report on Lyft
Lyft Price Performance
Lyft stock traded down $0.88 during trading hours on Wednesday, hitting $21.96. The stock had a trading volume of 25,951,031 shares, compared to its average volume of 24,820,908. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 91.50, a PEG ratio of 3.57 and a beta of 2.33. Lyft has a 1-year low of $9.66 and a 1-year high of $23.50. The stock's fifty day moving average is $15.96 and its two-hundred day moving average is $14.45.
Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company posted $0.24 EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that Lyft will post 0.22 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CEO John David Risher purchased 5,926 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was bought at an average cost of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the purchase, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at $199,137,850.08. The trade was a 0.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total value of $258,600.00. Following the sale, the chief financial officer owned 525,759 shares of the company's stock, valued at $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,427 shares of company stock worth $1,252,686 over the last three months. 3.07% of the stock is owned by insiders.
Institutional Investors Weigh In On Lyft
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its stake in shares of Lyft by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company's stock valued at $290,000 after buying an additional 868 shares in 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 valued at $277,000 after buying an additional 892 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Lyft by 3.8% in the second quarter. Main Street Financial Solutions LLC now owns 24,688 shares of the ride-sharing company's stock valued at $389,000 after buying an additional 909 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Lyft by 11.3% in 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 buying an additional 914 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Lyft by 39.4% in the second quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company's stock valued at $65,000 after buying an additional 1,160 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
About Lyft
(
Get Free Report)
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.
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