LYFT (NASDAQ:LYFT) Stock Rating Reaffirmed by Credit Suisse Group

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LYFT (NASDAQ:LYFT)‘s stock had its “buy” rating reaffirmed by research analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $96.00 price target on the ride-sharing company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 114.81% from the stock’s previous close.

Several other brokerages have also issued reports on LYFT. Sanford C. Bernstein assumed coverage on LYFT in a report on Thursday, January 9th. They set a “market perform” rating and a $48.00 price objective on the stock. MKM Partners raised their price objective on LYFT to in a report on Wednesday. Loop Capital raised LYFT from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Monday, November 25th. DA Davidson dropped their price objective on LYFT to and set a “buy” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of LYFT in a report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $65.55.

Shares of LYFT stock opened at $44.69 on Thursday. The stock’s 50-day moving average is $46.89 and its two-hundred day moving average is $47.00. LYFT has a 1 year low of $37.07 and a 1 year high of $88.60. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.12.

LYFT (NASDAQ:LYFT) last issued its quarterly earnings data 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $984.49 million. LYFT had a negative return on equity of 279.94% and a negative net margin of 71.96%. Research analysts forecast that LYFT will post -4.47 earnings per share for the current year.

In other LYFT news, General Counsel Kristin Sverchek sold 1,500 shares of LYFT stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $47.51, for a total value of $71,265.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President John Patrick Zimmer sold 39,037 shares of LYFT stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $43.60, for a total value of $1,702,013.20. The disclosure for this sale can be found here. Insiders sold a total of 178,072 shares of company stock worth $7,950,163 in the last ninety days.

Institutional investors and hedge funds have recently made changes to their positions in the business. Surevest Inc. boosted its holdings in LYFT by 21.6% in the 4th quarter. Surevest Inc. now owns 21,366 shares of the ride-sharing company’s stock valued at $919,000 after purchasing an additional 3,793 shares in the last quarter. State Street Corp lifted its position in shares of LYFT by 104.3% during the 3rd quarter. State Street Corp now owns 1,629,130 shares of the ride-sharing company’s stock valued at $66,534,000 after acquiring an additional 831,600 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in shares of LYFT during the 3rd quarter valued at approximately $40,000. Man Group plc lifted its position in shares of LYFT by 748.2% during the 3rd quarter. Man Group plc now owns 129,080 shares of the ride-sharing company’s stock valued at $5,271,000 after acquiring an additional 113,861 shares during the period. Finally, Price Wealth LLC acquired a new stake in shares of LYFT during the 3rd quarter valued at approximately $56,000. 44.44% of the stock is currently owned by institutional investors.

About LYFT

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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