Cantor Fitzgerald Cuts Lyft (NASDAQ:LYFT) Price Target to $14.00

Lyft (NASDAQ:LYFT) had its price target trimmed by Cantor Fitzgerald from $15.00 to $14.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the ride-sharing company’s stock.

Several other research firms have also recently issued reports on LYFT. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Wednesday. Wedbush decreased their target price on Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Morgan Stanley boosted their price target on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. TD Cowen raised their price objective on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, Roth Mkm upped their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lyft has a consensus rating of “Hold” and a consensus target price of $17.22.

Lyft Stock Down 0.3 %

Lyft stock opened at $13.43 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $5.57 billion, a PE ratio of -83.94, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16. The business has a 50 day simple moving average of $13.88 and a 200-day simple moving average of $13.52. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. On average, analysts anticipate that Lyft will post 0.06 EPS for the current fiscal year.

Lyft declared that its board has initiated a stock buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Lyft

In other news, Director Logan Green sold 10,919 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. True Wealth Design LLC purchased a new position in Lyft in the 3rd quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lyft during the 4th quarter worth $29,000. ORG Wealth Partners LLC acquired a new position in Lyft during the 4th quarter worth $31,000. Byrne Asset Management LLC purchased a new stake in Lyft during the 4th quarter worth about $35,000. Finally, Plato Investment Management Ltd acquired a new stake in Lyft in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.