Lyft (NASDAQ:LYFT) Price Target Raised to $19.00 at The Goldman Sachs Group

Lyft (NASDAQ:LYFT - Free Report) had its target price boosted by The Goldman Sachs Group from $16.00 to $19.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the ride-sharing company's stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Lyft from $15.00 to $18.00 and gave the company an equal weight rating in a research note on Monday, April 8th. UBS Group increased their price target on shares of Lyft from $13.00 to $14.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Morgan Stanley boosted their price objective on Lyft from $12.00 to $13.00 and gave the stock an equal weight rating in a research note on Monday. Sanford C. Bernstein upped their price objective on Lyft from $15.00 to $19.00 and gave the company a market perform rating in a research report on Wednesday. Finally, BMO Capital Markets lifted their target price on Lyft from $15.00 to $18.00 and gave the stock a market perform rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $16.70.

Lyft Stock Performance

NASDAQ LYFT traded down $0.54 on Thursday, reaching $17.24. 12,924,053 shares of the stock were exchanged, compared to its average volume of 16,567,121. The firm has a market capitalization of $6.89 billion, a PE ratio of -36.87 and a beta of 2.05. Lyft has a one year low of $7.85 and a one year high of $20.82. The company's 50-day simple moving average is $17.75 and its two-hundred day simple moving average is $14.58. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

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

Insider Activity at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $16.06, for a total transaction of $290,123.90. Following the sale, the chief accounting officer now owns 255,817 shares of the company's stock, valued at approximately $4,108,421.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Kristin Sverchek sold 5,670 shares of the business's stock in a transaction 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 directly owns 633,950 shares in the company, valued at $9,521,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of Lyft stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $16.06, for a total value of $290,123.90. Following the transaction, the chief accounting officer now owns 255,817 shares of the company's stock, valued at $4,108,421.02. The disclosure for this sale can be found here. Insiders sold 280,526 shares of company stock valued at $5,358,031 in the last three months. 3.16% of the stock is owned by insiders.

Institutional Trading of Lyft

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Lyft by 42.9% in the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company's stock valued at $43,000 after purchasing an additional 664 shares during the period. Commerce Bank increased its holdings in Lyft by 2.9% in the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company's stock worth $414,000 after acquiring an additional 782 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in Lyft by 21.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company's stock worth $68,000 after acquiring an additional 814 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company's stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. Finally, CWM LLC increased its stake in Lyft by 15.4% during the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company's stock worth $123,000 after buying an additional 1,093 shares in the last quarter. 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.