Sanford C. Bernstein Raises Lyft (NASDAQ:LYFT) Price Target to $18.00

Lyft (NASDAQ:LYFT - Free Report) had its price objective raised by Sanford C. Bernstein from $16.00 to $18.00 in a report published on Monday,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the ride-sharing company's stock.

LYFT has been the subject of a number of other reports. DA Davidson reaffirmed a "neutral" rating and set a $15.00 price objective on shares of Lyft in a research note on Wednesday, April 16th. Barclays boosted their price target on Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 target price on the stock in a report on Friday, May 9th. Morgan Stanley lowered their price target on Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group upped their price objective on Lyft from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Lyft presently has a consensus rating of "Hold" and an average target price of $16.95.

Lyft Price Performance

Shares of Lyft stock traded down $0.28 during midday trading on Monday, reaching $14.45. The company had a trading volume of 7,855,392 shares, compared to its average volume of 17,601,246. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 96.50, a price-to-earnings-growth ratio of 2.92 and a beta of 2.20. The stock has a fifty day simple moving average of $15.52 and a 200 day simple moving average of $13.70. Lyft has a 1-year low of $8.93 and a 1-year high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.15 EPS. As a group, equities research analysts forecast that Lyft will post 0.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John David Risher purchased 6,538 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the purchase, the chief executive officer owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the completion of the transaction, the director owned 879,498 shares of the company's stock, valued at $13,896,068.40. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,732 shares of company stock worth $347,159. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in shares of Lyft in the 4th quarter worth about $176,000. Harbour Investments Inc. raised its position in shares of Lyft by 259.7% in the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock worth $36,000 after acquiring an additional 2,000 shares in the last quarter. Xponance Inc. raised its position in shares of Lyft by 10.5% in the 4th quarter. Xponance Inc. now owns 43,045 shares of the ride-sharing company's stock worth $555,000 after acquiring an additional 4,087 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Lyft by 237.6% in the 4th quarter. Teacher Retirement System of Texas now owns 306,016 shares of the ride-sharing company's stock worth $3,948,000 after acquiring an additional 215,376 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Lyft by 335.7% in the 4th quarter. American Century Companies Inc. now owns 102,614 shares of the ride-sharing company's stock worth $1,324,000 after acquiring an additional 79,062 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

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.