TD Cowen Boosts Lyft (NASDAQ:LYFT) Price Target to $16.00

Lyft (NASDAQ:LYFT) had its price target boosted by TD Cowen from $14.00 to $16.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the ride-sharing company’s stock. TD Cowen’s price target indicates a potential downside of 8.15% from the stock’s current price.

A number of other analysts also recently commented on the stock. Moffett Nathanson upgraded shares of Lyft from a “sell” rating to a “neutral” rating in a report on Wednesday, February 14th. Morgan Stanley lifted their price target on shares of Lyft from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research note on Wednesday. Finally, DA Davidson upped their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average target price of $16.22.

Lyft Stock Performance

Shares of NASDAQ LYFT traded up $0.82 during midday trading on Wednesday, reaching $17.42. The company had a trading volume of 27,088,598 shares, compared to its average volume of 16,465,334. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The business’s 50-day simple moving average is $17.75 and its 200 day simple moving average is $14.58. The stock has a market cap of $6.96 billion, a P/E ratio of -19.73 and a beta of 2.05. Lyft has a 1 year low of $7.85 and a 1 year high of $20.82.

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

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 11,867 shares of Lyft stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $15.69, for a total value of $186,193.23. Following the transaction, the director now directly owns 346,341 shares of the company’s stock, valued at approximately $5,434,090.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lyft news, Director Logan Green sold 11,867 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $15.69, for a total value of $186,193.23. Following the transaction, the director now directly owns 346,341 shares of the company’s stock, valued at $5,434,090.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the completion of the sale, the president now directly owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,526 shares of company stock valued at $5,358,031. Company insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Lyft by 42.9% in the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after acquiring an additional 664 shares during the last quarter. Commerce Bank increased its position in Lyft by 2.9% in the fourth quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock worth $414,000 after buying an additional 782 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in Lyft by 21.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after buying an additional 814 shares during the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 1,000 shares during the period. Finally, CWM LLC lifted its position in Lyft by 15.4% in the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after purchasing an additional 1,093 shares during the last quarter. 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.