Lyft (NASDAQ:LYFT) Price Target Raised to $18.00 at Zephirin Group

Lyft (NASDAQ:LYFT) had its price target increased by research analysts at Zephirin Group from $15.00 to $18.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has a “hold” rating on the ride-sharing company’s stock. Zephirin Group’s price target suggests a potential downside of 14.42% from the company’s previous close.

LYFT has been the subject of several other reports. Bank of America increased their price objective on Lyft from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, September 18th. Guggenheim raised Lyft to a “strong-buy” rating in a research report on Wednesday, October 15th. Morgan Stanley raised their target price on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Canaccord Genuity Group raised their price target on shares of Lyft from $11.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, September 18th. Finally, UBS Group lifted their price target on shares of Lyft from $15.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. One equities 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.22.

Lyft Trading Down 1.0%

Shares of Lyft stock traded down $0.22 during trading hours on Thursday, reaching $21.03. 6,683,296 shares of the company’s stock were exchanged, compared to its average volume of 18,668,648. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 55.35, a price-to-earnings-growth ratio of 3.51 and a beta of 2.36. The company has a fifty day moving average of $20.17 and a 200-day moving average of $16.74. Lyft has a 52-week low of $9.66 and a 52-week high of $23.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a return on equity of 17.08% and a net margin of 2.40%.Lyft’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Sell-side analysts forecast that Lyft will post 0.22 EPS for the current fiscal year.

Insider Transactions at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business’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 transaction, the insider owned 850,388 shares of the company’s stock, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John David Risher bought 5,926 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer directly owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 74,427 shares of company stock worth $1,252,686 in the last 90 days. 3.07% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Several large investors have recently bought and sold shares of LYFT. Heartland Advisors Inc. grew its position in Lyft by 68.2% during the third quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock valued at $13,092,000 after buying an additional 241,250 shares during the period. Rothschild Investment LLC lifted its stake in shares of Lyft by 142,300.0% in the third quarter. Rothschild Investment LLC now owns 28,480 shares of the ride-sharing company’s stock worth $627,000 after buying an additional 28,460 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Lyft during the third quarter worth approximately $24,828,000. State of New Jersey Common Pension Fund D increased its position in Lyft by 5.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 155,236 shares of the ride-sharing company’s stock worth $3,417,000 after purchasing an additional 8,243 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new position in shares of Lyft during the third quarter worth $1,346,000. Hedge funds and other 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.