Lyft’s (LYFT) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Lyft (NASDAQ:LYFT) in a report issued on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $13.00 target price on the ride-sharing company’s stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their price target on Lyft from $19.00 to $21.00 and gave the company a neutral rating in a research note on Friday, June 7th. Truist Financial dropped their price objective on shares of Lyft from $18.00 to $13.00 and set a hold rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lyft from $15.00 to $11.00 and set a hold rating for the company in a report on Thursday, August 8th. Gordon Haskett raised shares of Lyft from a hold rating to a buy rating and increased their price target for the company from $17.00 to $20.00 in a report on Friday, June 7th. Finally, Piper Sandler restated an overweight rating and set a $24.00 price objective (up from $23.00) on shares of Lyft in a research report on Friday, June 7th. Twenty-six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $15.65.

Lyft Stock Down 0.5 %

Lyft stock opened at $13.28 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The company’s 50-day moving average is $11.55 and its 200-day moving average is $14.58. The firm has a market capitalization of $5.45 billion, a PE ratio of -28.25 and a beta of 2.04. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The business’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Sell-side analysts anticipate that Lyft will post -0.16 earnings per share for the current year.

Insider Transactions at Lyft

In related news, President Kristin Sverchek sold 3,000 shares of Lyft stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the sale, the president now directly owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Kristin Sverchek sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.81, for a total value of $41,430.00. Following the completion of the transaction, the president now owns 47,778 shares of the company’s stock, valued at approximately $659,814.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,664 shares of company stock valued at $421,478. 3.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently bought and sold shares of LYFT. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Lyft during the fourth quarter worth about $175,000. Janney Montgomery Scott LLC bought a new stake in Lyft during the 4th quarter worth approximately $796,000. Corient Private Wealth LLC increased its position in Lyft by 163.9% in the 4th quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock valued at $1,511,000 after acquiring an additional 62,623 shares during the period. Commerce Bank raised its stake in shares of Lyft by 2.9% during the fourth quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after acquiring an additional 782 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Lyft during the fourth quarter worth $167,000. Institutional investors and hedge funds 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.