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

Lyft (NASDAQ:LYFT) had its target price increased by Citigroup from $15.00 to $18.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

Several other research analysts also recently commented on LYFT. The Goldman Sachs Group downgraded Lyft from a buy rating to a neutral rating and raised their price objective for the stock from $12.00 to $15.00 in a research note on Thursday, January 11th. Barclays raised their target price on shares of Lyft from $17.00 to $20.00 and gave the stock an equal weight rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Lyft from $11.00 to $13.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. BMO Capital Markets raised their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a market perform rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of Lyft from $12.00 to $13.00 and gave the stock an equal weight rating in a report on Monday. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $16.70.

Lyft Stock Down 3.0 %

LYFT traded down $0.54 during trading on Wednesday, hitting $17.24. 12,924,053 shares of the company’s stock traded hands, compared to its average volume of 16,567,121. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of -36.68 and a beta of 2.05. The company’s 50 day simple moving average is $17.82 and its two-hundred day simple moving average is $14.62. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Analysts predict that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total transaction of $275,327.24. Following the transaction, the director now owns 1,204,071 shares of the company’s stock, valued at $21,083,283.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the completion of the sale, the director now directly owns 1,204,071 shares of the company’s stock, valued at $21,083,283.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the transaction, the president now directly owns 633,950 shares in the company, valued at $9,521,929. The disclosure for this sale can be found here. Insiders have sold 280,526 shares of company stock worth $5,358,031 in the last ninety days. 3.16% of the stock is owned by corporate insiders.

Institutional Trading of Lyft

A number of hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC boosted its holdings in Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. Allworth Financial LP lifted its holdings in Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 1,672 shares during the period. a16z Perennial Management L.P. acquired a new position in shares of Lyft during the 4th quarter worth $34,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Lyft in the fourth quarter valued at about $34,000. Finally, Gables Capital Management Inc. grew its position in Lyft by 129.0% during the third quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 2,000 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

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.