Lyft (NASDAQ:LYFT) Price Target Raised to $14.00

Lyft (NASDAQ:LYFT - Free Report) had its price objective boosted by Wells Fargo & Company from $13.00 to $14.00 in a research note published on Monday,Benzinga reports. They currently have an equal weight rating on the ride-sharing company's stock.

LYFT has been the topic of a number of other reports. Citigroup reiterated a "hold" rating and issued a $14.00 price target (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. JPMorgan Chase & Co. upped their price target on Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price target on the stock in a research report on Friday, May 9th. UBS Group upped their price target on Lyft from $12.00 to $14.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, TD Cowen upgraded Lyft from a "hold" rating to a "buy" rating and upped their price target for the company from $16.00 to $21.00 in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Lyft presently has an average rating of "Hold" and a consensus target price of $16.78.

Lyft Stock Performance

Shares of LYFT traded down $0.34 on Monday, reaching $15.32. 16,524,560 shares of the stock traded hands, compared to its average volume of 16,305,547. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 102.13, a P/E/G ratio of 3.07 and a beta of 2.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. Lyft has a 12 month low of $8.93 and a 12 month high of $19.07. The stock's 50-day moving average price is $15.43 and its 200-day moving average price is $13.60.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The business's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities analysts forecast that Lyft will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the transaction, the director owned 879,498 shares of the company's stock, valued at $13,896,068.40. This trade represents a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jill Beggs sold 1,572 shares of Lyft 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 transaction, the director directly owned 20,467 shares in the company, valued at $335,863.47. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,732 shares of company stock worth $347,159 over the last quarter. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LYFT. Spurstone Advisory Services LLC bought a new position in Lyft in the fourth quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock valued at $31,000 after buying an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new position in Lyft in the second quarter valued at approximately $32,000. GAMMA Investing LLC lifted its stake in Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after buying an additional 1,237 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Lyft in the first quarter valued at approximately $35,000. Institutional investors own 83.07% of the company's stock.

About Lyft

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.