Lyft (NASDAQ:LYFT) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Lyft (NASDAQ:LYFT) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $13.00 price objective on the ride-sharing company’s stock.

Other equities research analysts have also issued reports about the company. Barclays decreased their target price on Lyft from $20.00 to $14.00 and set an equal weight rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a hold rating on shares of Lyft in a research report on Wednesday, August 7th. Wolfe Research began coverage on Lyft in a research report on Tuesday, July 16th. They set a peer perform rating for the company. Fox Advisors raised Lyft from an equal weight rating to an overweight rating and set a $20.00 target price for the company in a research report on Friday, June 7th. Finally, Roth Mkm decreased their target price on Lyft from $19.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, August 14th. Twenty-six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $15.65.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $11.06 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. The stock’s fifty day simple moving average is $11.86 and its two-hundred day simple moving average is $15.00. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The stock has a market cap of $4.46 billion, a PE ratio of -23.53 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business earned ($0.14) EPS. The business’s revenue was up 40.6% on a year-over-year basis. As a group, analysts forecast that Lyft will post -0.16 EPS for the current fiscal year.

Insider Activity

In other news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the sale, the director now owns 932,062 shares in the company, valued at approximately $10,625,506.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the sale, the director now owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,497 shares of company stock worth $392,157. 3.07% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in Lyft in the 2nd quarter worth approximately $388,000. B. Riley Wealth Advisors Inc. lifted its position in Lyft by 40.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 33,514 shares of the ride-sharing company’s stock worth $473,000 after buying an additional 9,731 shares during the last quarter. Quarry LP lifted its position in Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after buying an additional 3,468 shares during the last quarter. Algert Global LLC lifted its position in Lyft by 92.0% in the 2nd quarter. Algert Global LLC now owns 213,039 shares of the ride-sharing company’s stock worth $3,004,000 after buying an additional 102,109 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Lyft in the 2nd quarter worth approximately $3,349,000. Institutional investors own 83.07% of the company’s stock.

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.