Lyft (NASDAQ:LYFT) Price Target Increased to $18.00 by Analysts at Wedbush

Lyft (NASDAQ:LYFT) had its price objective boosted by equities researchers at Wedbush from $15.00 to $18.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. Wedbush’s price objective would indicate a potential upside of 3.39% from the stock’s previous close.

LYFT has been the topic of a number of other research reports. Argus raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, March 5th. Barclays upped their price target on Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Citigroup raised their price objective on Lyft from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. TD Cowen upped their target price on Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Finally, UBS Group increased their target price on Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.86.

Lyft Trading Up 4.9 %

LYFT traded up $0.81 during trading on Wednesday, hitting $17.41. The company’s stock had a trading volume of 21,327,296 shares, compared to its average volume of 16,388,465. The firm has a market capitalization of $6.96 billion, a P/E ratio of -20.31 and a beta of 2.05. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82. The stock’s fifty day moving average price is $17.75 and its 200-day moving average price is $14.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Analysts anticipate that Lyft will post -0.35 EPS for the current year.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares of the company’s stock, valued at $18,688,181.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Lyft news, President Kristin Sverchek sold 5,670 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the sale, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The disclosure for this sale can be found here. Insiders have sold a total of 280,526 shares of company stock worth $5,358,031 over the last three months. 3.16% of the stock is currently owned by insiders.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently bought and sold shares of LYFT. Norges Bank purchased a new position in shares of Lyft during the fourth quarter worth about $94,687,000. Kodai Capital Management LP bought a new stake in Lyft during the fourth quarter valued at approximately $26,069,000. Bank of Nova Scotia purchased a new position in Lyft in the 4th quarter worth approximately $21,433,000. Vanguard Group Inc. increased its holdings in shares of Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after buying an additional 1,135,036 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Lyft by 126.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock valued at $29,041,000 after buying an additional 1,080,009 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

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.