SunTrust Banks Initiates Coverage on LYFT (NASDAQ:LYFT)

SunTrust Banks started coverage on shares of LYFT (NASDAQ:LYFT) in a research report issued on Tuesday, BenzingaRatingsTable reports. The brokerage set a “buy” rating and a $74.00 price target on the ride-sharing company’s stock. SunTrust Banks’ price target points to a potential upside of 52.70% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. JMP Securities restated a “buy” rating and issued a $88.00 target price on shares of LYFT in a report on Monday. BidaskClub upgraded shares of LYFT from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. UBS Group cut their target price on shares of LYFT from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Credit Suisse Group restated a “buy” rating and issued a $96.00 target price on shares of LYFT in a report on Wednesday, November 13th. Finally, Tigress Financial restated a “buy” rating on shares of LYFT in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $65.55.

Shares of NASDAQ LYFT opened at $48.46 on Tuesday. LYFT has a one year low of $37.07 and a one year high of $88.60. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.12. The firm’s 50 day simple moving average is $46.86 and its two-hundred day simple moving average is $47.10.

LYFT (NASDAQ:LYFT) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported ($1.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.03. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $984.49 million. On average, equities analysts anticipate that LYFT will post -10.41 EPS for the current fiscal year.

In other LYFT news, General Counsel Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $52.51, for a total transaction of $157,530.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Keith Roberts sold 17,589 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $43.80, for a total value of $770,398.20. The disclosure for this sale can be found here. Insiders sold 178,072 shares of company stock valued at $7,950,163 in the last ninety days.

A number of institutional investors have recently made changes to their positions in LYFT. FMR LLC lifted its position in LYFT by 147.2% during the fourth quarter. FMR LLC now owns 42,686,898 shares of the ride-sharing company’s stock valued at $1,836,390,000 after buying an additional 25,416,234 shares during the period. State Street Corp lifted its position in LYFT by 99.4% during the fourth quarter. State Street Corp now owns 3,249,242 shares of the ride-sharing company’s stock valued at $139,782,000 after buying an additional 1,620,112 shares during the period. MUFG Securities EMEA plc purchased a new position in LYFT during the fourth quarter valued at $22,418,000. Morningstar Investment Services LLC lifted its position in LYFT by 207.1% during the fourth quarter. Morningstar Investment Services LLC now owns 670,864 shares of the ride-sharing company’s stock valued at $28,862,000 after buying an additional 452,401 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in LYFT by 14.9% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 2,704,407 shares of the ride-sharing company’s stock valued at $116,343,000 after buying an additional 351,599 shares during the period. 44.44% of the stock is owned by institutional investors and hedge funds.

LYFT Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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Analyst Recommendations for LYFT (NASDAQ:LYFT)

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