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Lyft (NASDAQ:LYFT) Rating Increased to Buy at Wall Street Zen

Lyft logo with Computer and Technology background

Wall Street Zen upgraded shares of Lyft (NASDAQ:LYFT - Free Report) from a hold rating to a buy rating in a research report released on Saturday.

A number of other research firms have also issued reports on LYFT. Morgan Stanley reduced their target price on Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Friday, May 9th. Loop Capital decreased their price objective on Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. UBS Group boosted their target price on shares of Lyft from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Barclays upped their target price on shares of Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.50.

View Our Latest Stock Analysis on LYFT

Lyft Price Performance

Lyft stock traded up $0.91 during trading hours on Friday, hitting $15.86. The stock had a trading volume of 24,959,165 shares, compared to its average volume of 16,167,563. Lyft has a 1-year low of $8.93 and a 1-year high of $19.07. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 105.73, a PEG ratio of 2.76 and a beta of 2.22. The stock's fifty day moving average is $14.39 and its two-hundred day moving average is $13.48. 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 (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a net margin of 0.95% and a return on equity of 11.28%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the business posted $0.15 earnings per share. The business's revenue was up 13.5% compared to the same quarter last year. As a group, analysts predict that Lyft will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John David Risher purchased 6,538 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, with a total value of $99,966.02. Following the acquisition, the chief executive officer now owns 11,791,340 shares in the company, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the completion of the transaction, the insider now owns 959,697 shares in the company, valued at $11,948,227.65. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,732 shares of company stock valued at $347,159. Corporate insiders own 3.07% of the company's stock.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its stake in shares of Lyft by 6.9% in the fourth quarter. Empowered Funds LLC now owns 21,292 shares of the ride-sharing company's stock worth $275,000 after buying an additional 1,382 shares during the last quarter. Allworth Financial LP grew its holdings in Lyft by 25.9% during the 4th quarter. Allworth Financial LP now owns 9,171 shares of the ride-sharing company's stock worth $123,000 after acquiring an additional 1,889 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Lyft by 34.0% during the 4th quarter. Sanctuary Advisors LLC now owns 38,117 shares of the ride-sharing company's stock worth $517,000 after acquiring an additional 9,663 shares in the last quarter. Ieq Capital LLC increased its position in shares of Lyft by 111.5% in the 4th quarter. Ieq Capital LLC now owns 454,527 shares of the ride-sharing company's stock worth $5,863,000 after purchasing an additional 239,629 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Lyft by 17.7% in the 4th quarter. Handelsbanken Fonder AB now owns 87,600 shares of the ride-sharing company's stock valued at $1,130,000 after purchasing an additional 13,200 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Company Profile

(Get Free Report)

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.

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