Tigress Financial Raises Lyft (NASDAQ:LYFT) Price Target to $24.00

Lyft (NASDAQ:LYFT - Free Report) had its target price boosted by Tigress Financial from $22.00 to $24.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the ride-sharing company's stock.

LYFT has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price on shares of Lyft from $11.00 to $13.00 and gave the company a neutral rating in a report on Wednesday, February 14th. UBS Group boosted their target price on shares of Lyft from $13.00 to $14.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Royal Bank of Canada upgraded shares of Lyft from a sector perform rating to an outperform rating and boosted their target price for the company from $17.00 to $23.00 in a report on Monday, March 4th. Wells Fargo & Company boosted their target price on shares of Lyft from $15.00 to $18.00 and gave the company an equal weight rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group lowered shares of Lyft from a buy rating to a neutral rating and boosted their target price for the company from $12.00 to $15.00 in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $14.60.

Lyft Price Performance

LYFT traded down $0.60 on Thursday, reaching $16.71. 12,113,288 shares of the company's stock were exchanged, compared to its average volume of 16,818,973. The stock has a market cap of $6.68 billion, a PE ratio of -18.78 and a beta of 1.98. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82. The stock's fifty day moving average price is $17.58 and its 200-day moving average price is $13.99. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Sell-side analysts expect that Lyft will post -0.35 EPS for the current year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 5,670 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the sale, the president now directly owns 633,950 shares of the company's stock, valued at approximately $9,521,929. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the transaction, the chief accounting officer now owns 255,817 shares of the company's stock, valued at approximately $4,108,421.02. The disclosure for this sale can be found here. Insiders have sold a total of 270,526 shares of company stock valued at $5,195,771 in the last ninety days. Company insiders own 3.16% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 1,672 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in shares of Lyft in the 4th quarter valued at $34,000. Kapitalo Investimentos Ltda acquired a new position in shares of Lyft in the 4th quarter valued at $34,000. BluePath Capital Management LLC acquired a new position in shares of Lyft in the 3rd quarter valued at $35,000. Finally, Gables Capital Management Inc. boosted its holdings in shares of Lyft by 129.0% in the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company's stock valued at $37,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds 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.