Lyft (NASDAQ:LYFT) Price Target Increased to $13.00 by Analysts at Morgan Stanley

Lyft (NASDAQ:LYFT - Free Report) had its price target increased by Morgan Stanley from $12.00 to $13.00 in a research report report published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the ride-sharing company's stock.

LYFT has been the topic of several other reports. BMO Capital Markets started coverage on Lyft in a report on Tuesday, January 9th. They set a market perform rating and a $15.00 target price on the stock. TD Cowen raised their target price on Lyft from $10.00 to $12.00 and gave the company a market perform rating in a research note on Monday, January 22nd. Royal Bank of Canada upgraded Lyft from a sector perform rating to an outperform rating and boosted their price target for the stock from $17.00 to $23.00 in a research note on Monday, March 4th. Barclays raised their price objective on Lyft from $14.00 to $17.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Finally, Citigroup upped their target price on Lyft from $13.00 to $15.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $15.16.

Lyft Stock Up 1.9 %

Shares of LYFT traded up $0.32 during mid-day trading on Monday, hitting $17.52. 12,975,948 shares of the company's stock were exchanged, compared to its average volume of 16,229,462. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. Lyft has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -19.69 and a beta of 2.05. The stock's 50-day moving average is $17.75 and its 200-day moving average is $14.54.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. On average, sell-side analysts anticipate that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other news, President Kristin Sverchek sold 3,500 shares of Lyft stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.51, for a total value of $61,285.00. Following the transaction, the president now directly owns 96,978 shares in the company, valued at $1,698,084.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Kristin Sverchek sold 3,500 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $17.51, for a total value of $61,285.00. Following the sale, the president now owns 96,978 shares in the company, valued at $1,698,084.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 193,200 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the transaction, the director now owns 932,544 shares of the company's stock, valued at $18,688,181.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 280,526 shares of company stock worth $5,358,031. 3.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

A number of hedge funds have recently made changes to their positions in LYFT. FinTrust Capital Advisors LLC boosted its stake in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company's stock worth $26,000 after purchasing an additional 1,000 shares in the last quarter. Allworth Financial LP increased its stake 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 during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Lyft during the first quarter valued at $41,000. GAMMA Investing LLC raised its holdings in Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company's stock worth $43,000 after purchasing an additional 664 shares during the last quarter. Finally, a16z Perennial Management L.P. bought a new position in shares of Lyft in the 4th quarter valued at about $34,000. 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.