Lyft (NASDAQ:LYFT) Stock Rating Lowered by Cowen

Cowen cut shares of Lyft (NASDAQ:LYFTGet Rating) from an outperform rating to a market perform rating in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have $14.00 price target on the ride-sharing company’s stock, down from their previous price target of $36.00.

Other equities analysts have also issued research reports about the stock. DA Davidson cut their price objective on shares of Lyft from $25.00 to $19.00 and set a buy rating for the company in a research report on Tuesday, November 8th. Wedbush cut their price objective on shares of Lyft from $25.00 to $17.00 and set an outperform rating for the company in a research report on Tuesday, November 8th. Guggenheim cut their price objective on shares of Lyft from $32.00 to $28.00 and set a buy rating for the company in a research report on Monday, August 15th. Credit Suisse Group cut their price objective on shares of Lyft from $46.00 to $35.00 and set an outperform rating for the company in a research report on Friday, November 4th. Finally, Susquehanna cut their price objective on shares of Lyft from $23.00 to $13.00 and set a neutral rating for the company in a research report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Lyft presently has a consensus rating of Hold and a consensus price target of $27.59.

Lyft Stock Performance

Shares of LYFT opened at $11.31 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. The stock has a market cap of $4.08 billion, a P/E ratio of -3.16 and a beta of 1.68. The company has a 50-day moving average of $13.39 and a two-hundred day moving average of $15.11. Lyft has a 12-month low of $10.43 and a 12-month high of $46.64.

Institutional Trading of Lyft

A number of hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its position in Lyft by 3.7% during the first quarter. Daiwa Securities Group Inc. now owns 13,949 shares of the ride-sharing company’s stock valued at $536,000 after acquiring an additional 500 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Lyft by 4.1% in the first quarter. Geneos Wealth Management Inc. now owns 13,303 shares of the ride-sharing company’s stock worth $510,000 after acquiring an additional 530 shares during the last quarter. Castleview Partners LLC grew its stake in shares of Lyft by 1,228.0% in the second quarter. Castleview Partners LLC now owns 664 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 614 shares during the last quarter. Wrapmanager Inc. grew its stake in shares of Lyft by 6.6% in the second quarter. Wrapmanager Inc. now owns 10,391 shares of the ride-sharing company’s stock worth $138,000 after acquiring an additional 641 shares during the last quarter. Finally, MCF Advisors LLC acquired a new stake in shares of Lyft in the first quarter worth $25,000. 76.49% of the stock is owned by hedge funds and other institutional investors.

About Lyft

(Get Rating)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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Analyst Recommendations for Lyft (NASDAQ:LYFT)

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