Lyft (NASDAQ:LYFT) Price Target Lowered to $11.00 at Deutsche Bank Aktiengesellschaft

Lyft (NASDAQ:LYFT) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $15.00 to $11.00 in a research note issued to investors on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the ride-sharing company’s stock.

A number of other equities research analysts also recently weighed in on the company. Bank of America raised Lyft from an underperform rating to a buy rating and raised their price objective for the company from $15.00 to $20.00 in a research report on Friday, June 7th. Royal Bank of Canada reaffirmed an outperform rating and issued a $24.00 price objective on shares of Lyft in a research report on Friday, June 7th. Wolfe Research started coverage on shares of Lyft in a research report on Tuesday, July 16th. They set a peer perform rating for the company. BMO Capital Markets raised their target price on shares of Lyft from $18.00 to $19.00 and gave the company a market perform rating in a research note on Friday, June 7th. Finally, Vertical Research raised Lyft to a strong-buy rating in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $16.03.

Lyft Stock Down 3.1 %

Shares of NASDAQ LYFT traded down $0.31 during midday trading on Thursday, reaching $9.76. 18,693,449 shares of the company’s stock traded hands, compared to its average volume of 15,903,942. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -21.43 and a beta of 2.06. The stock’s 50 day simple moving average is $13.26 and its 200-day simple moving average is $15.38. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. Lyft has a one year low of $8.85 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.09. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. On average, analysts predict that Lyft will post -0.18 EPS for the current fiscal year.

Insider Transactions at Lyft

In related news, President Kristin Sverchek sold 3,000 shares of the business’s stock in a transaction 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 directly owns 47,778 shares in the company, valued at approximately $659,814.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, President Kristin Sverchek sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 3,327 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $15.74, for a total value of $52,366.98. Following the transaction, the director now owns 921,294 shares in the company, valued at approximately $14,501,167.56. The disclosure for this sale can be found here. Insiders have sold 33,333 shares of company stock valued at $518,714 in the last 90 days. 3.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at about $645,000. Allworth Financial LP increased its stake in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 1,672 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Lyft by 1,142.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 376,202 shares of the ride-sharing company’s stock valued at $5,639,000 after acquiring an additional 345,919 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Lyft in the fourth quarter valued at approximately $1,351,000. Finally, CWM LLC boosted its stake in shares of Lyft by 15.4% in the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after acquiring an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors 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.