HCR Wealth Advisors Raises Stake in Lyft, Inc. (NASDAQ:LYFT)

HCR Wealth Advisors lifted its position in shares of Lyft, Inc. (NASDAQ:LYFTGet Rating) by 18.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 28,371 shares of the ride-sharing company’s stock after purchasing an additional 4,497 shares during the quarter. HCR Wealth Advisors’ holdings in Lyft were worth $1,089,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYFT. Rockbridge Investment Management LCC raised its position in shares of Lyft by 95.6% during the 4th quarter. Rockbridge Investment Management LCC now owns 671 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 328 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Lyft by 206.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,067 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 719 shares in the last quarter. Activest Wealth Management bought a new position in shares of Lyft in the first quarter worth $44,000. Prospera Financial Services Inc bought a new position in shares of Lyft in the first quarter worth $59,000. Finally, Pacer Advisors Inc. bought a new position in shares of Lyft in the fourth quarter worth $69,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several research reports. The Goldman Sachs Group decreased their target price on Lyft from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, June 9th. Royal Bank of Canada decreased their target price on Lyft from $50.00 to $42.00 in a research note on Wednesday, May 4th. Argus decreased their price target on Lyft from $72.00 to $41.00 in a research report on Monday, May 16th. JPMorgan Chase & Co. decreased their price target on Lyft from $56.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, June 29th. Finally, Canaccord Genuity Group decreased their price target on Lyft from $58.00 to $52.00 in a research report on Wednesday, May 4th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Lyft currently has a consensus rating of “Moderate Buy” and an average price target of $41.97.

Lyft Price Performance

Lyft stock opened at $13.31 on Thursday. The stock’s 50 day moving average is $15.19 and its 200-day moving average is $28.44. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -5.81 and a beta of 1.88. Lyft, Inc. has a 12 month low of $11.96 and a 12 month high of $57.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68.

Lyft (NASDAQ:LYFTGet Rating) last issued its earnings results on Tuesday, May 3rd. The ride-sharing company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.21. The company had revenue of $875.60 million during the quarter, compared to the consensus estimate of $845.91 million. Lyft had a negative return on equity of 50.06% and a negative net margin of 22.42%. The firm’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period last year, the business posted ($0.86) EPS. Equities research analysts expect that Lyft, Inc. will post -1.85 EPS for the current year.

Lyft Profile

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Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

See Also

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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