Brokerages Set Lyft, Inc. (NASDAQ:LYFT) Target Price at $18.00

Shares of Lyft, Inc. (NASDAQ:LYFT) have earned an average rating of “Hold” from the thirty research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.00.

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Loop Capital raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, June 7th. Gordon Haskett raised Lyft from a “hold” rating to a “buy” rating and raised their price objective for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. Barclays boosted their target price on Lyft from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley increased their price target on Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, June 7th.

Insider Activity

In other Lyft news, Director John Patrick Zimmer sold 7,923 shares of Lyft stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total value of $131,046.42. Following the completion of the sale, the director now directly owns 924,621 shares in the company, valued at $15,293,231.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John Patrick Zimmer sold 7,923 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $16.54, for a total transaction of $131,046.42. Following the transaction, the director now owns 924,621 shares of the company’s stock, valued at approximately $15,293,231.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction that occurred on 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 owns 60,778 shares of the company’s stock, valued at $1,063,615. The disclosure for this sale can be found here. Insiders sold a total of 43,333 shares of company stock worth $680,974 in the last three months. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 664 shares during the period. Commerce Bank increased its position in Lyft by 2.9% in the 4th 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 holdings in shares of Lyft by 21.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock worth $68,000 after buying an additional 814 shares during the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares during the period. Finally, CWM LLC grew its stake in shares of Lyft by 15.4% in the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after acquiring an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $13.08 on Tuesday. The stock’s 50 day moving average price is $14.94 and its 200 day moving average price is $15.60. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of -27.83 and a beta of 2.06. Lyft has a 12 month low of $8.85 and a 12 month high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.17 billion. Equities research analysts anticipate that Lyft will post -0.19 earnings per share for the current fiscal year.

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.