Lyft (NASDAQ:LYFT) Price Target Raised to $25.00 at Cantor Fitzgerald

Lyft (NASDAQ:LYFT) had its price target upped by Cantor Fitzgerald from $19.00 to $25.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 17.23% from the company’s previous close.

A number of other equities analysts have also issued reports on LYFT. Susquehanna reduced their price target on shares of Lyft from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. UBS Group raised their target price on shares of Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Cowen restated a “buy” rating on shares of Lyft in a research report on Wednesday, September 24th. Jefferies Financial Group increased their price target on Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. Finally, Wedbush lifted their price objective on Lyft from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.45.

Lyft Stock Performance

NASDAQ:LYFT traded up $1.25 during trading hours on Thursday, hitting $21.33. 7,304,803 shares of the company were exchanged, compared to its average volume of 18,496,262. Lyft has a 52-week low of $9.66 and a 52-week high of $23.50. The company’s 50 day moving average price is $20.07 and its 200-day moving average price is $16.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 88.86, a PEG ratio of 3.40 and a beta of 2.36.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. As a group, research analysts forecast that Lyft will post 0.22 earnings per share for the current year.

Insider Activity at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider directly owned 850,388 shares of the company’s stock, valued at $13,478,649.80. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the sale, the chief financial officer directly owned 540,759 shares in the company, valued at $8,241,167.16. This represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 74,427 shares of company stock worth $1,252,686 in the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. Vanguard Group Inc. raised its position in shares of Lyft by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock worth $451,645,000 after purchasing an additional 2,046,639 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Lyft by 26.3% during the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock valued at $294,978,000 after acquiring an additional 5,178,118 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Lyft by 144.9% in the second quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company’s stock valued at $378,396,000 after acquiring an additional 14,205,143 shares in the last quarter. Rakuten Group Inc. acquired a new stake in shares of Lyft in the first quarter worth approximately $130,434,000. Finally, Geode Capital Management LLC grew its holdings in shares of Lyft by 0.3% during the second quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after buying an additional 20,354 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.