Lyft (NASDAQ:LYFT) Price Target Cut to $13.00 by Analysts at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its target price decreased by BMO Capital Markets from $19.00 to $13.00 in a research note released on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the ride-sharing company’s stock.

Several other equities research analysts have also recently weighed in on the stock. DA Davidson increased their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a neutral rating in a research report on Wednesday, May 8th. Barclays increased their price objective on shares of Lyft from $17.00 to $20.00 and gave the stock an equal weight rating in a research report on Wednesday, May 8th. Citigroup increased their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a neutral rating in a research report on Wednesday, May 8th. UBS Group decreased their price objective on shares of Lyft from $15.00 to $12.00 and set a neutral rating for the company in a research report on Thursday. Finally, Fox Advisors upgraded shares of Lyft from an equal weight rating to an overweight rating and set a $20.00 price target for the company in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $16.03.

Lyft Trading Down 3.1 %

Shares of LYFT stock traded down $0.31 during trading hours on Thursday, hitting $9.76. 18,693,449 shares of the company’s stock traded hands, compared to its average volume of 15,903,942. Lyft has a 12 month low of $8.85 and a 12 month high of $20.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The stock’s 50 day simple moving average is $13.14 and its 200 day simple moving average is $15.35. The stock has a market cap of $3.94 billion, a PE ratio of -20.77 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.17 billion. On average, sell-side analysts anticipate that Lyft will post -0.18 EPS for the current year.

Insider Activity at Lyft

In related news, President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the transaction, the president now directly owns 47,778 shares of the company’s stock, valued at $659,814.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lyft news, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.81, for a total value of $41,430.00. Following the sale, the president now owns 47,778 shares of the company’s stock, valued at $659,814.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,083 shares of Lyft stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the completion of the sale, the chief accounting officer now directly owns 351,853 shares in the company, valued at approximately $5,513,536.51. The disclosure for this sale can be found here. Insiders have sold 33,333 shares of company stock valued at $518,714 over the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Several hedge funds have recently added to or reduced their stakes in LYFT. International Assets Investment Management LLC bought a new stake in Lyft in the fourth quarter worth about $645,000. Allworth Financial LP increased its stake in shares of Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Lyft by 1,142.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 376,202 shares of the ride-sharing company’s stock worth $5,639,000 after purchasing an additional 345,919 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Lyft in the fourth quarter worth about $1,351,000. Finally, CWM LLC increased 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 purchasing an additional 1,093 shares in the last quarter. Institutional investors 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.