Lyft (NASDAQ: LYFT – Get an Assessment)The stock had its “outperform” rating reaffirmed by Wedbush equity researchers in a research report released Friday to clients and investors, Zacks.com reports.
Other analysts have also recently published research reports on the stock. Citigroup lowered its price target on Lyft stock from $95.00 to $78.00 and set a “buy” rating for the company in a Wednesday, Feb. 9 report. Cowen lowered his price target on Lyft stock from $80.00 to $70.00 and set an “outperform” rating for the company in a Monday, Jan. 31 report. Susquehanna Bancshares lowered its price target on Lyft shares from $80.00 to $54.00 and set a “positive” rating for the company in a Wednesday, Feb. 9 research note. UBS Group raised its price target on Lyft shares from $46.00 to $50.00 and gave the stock a “buy” rating in a Wednesday, Feb. 9 research note. Finally, Deutsche Bank Aktiengesellschaft launched a hedge on Lyft shares in a Friday, March 11 research note. They issued a “hold” rating and a price target of $43.00 for the company. Ten analysts gave the stock a hold rating and eighteen gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $60.14.
Lyft stock opened at $31.50 on Friday. Lyft has a fifty-two week low of $29.93 and a fifty-two week high of $63.07. The company has a debt ratio of 0.47, a quick ratio of 1.13 and a current ratio of 1.13. The company has a 50-day moving average price of $36.32 and a 200-day moving average price of $40.89. The company has a market capitalization of $10.98 billion, a PE ratio of -10.40 and a beta of 1.79.
Lyft (NASDAQ:LYFT – Get Rating) last reported results on Tuesday, February 8. The rideshare company reported ($0.38) earnings per share for the quarter, beating Thomson Reuters consensus estimate of ($0.48) by $0.10. Lyft had a negative net margin of 31.46% and a negative return on equity of 57.94%. The company posted revenue of $969.90 million in the quarter, versus a consensus estimate of $940.85 million. In the same quarter last year, the company achieved EPS of ($1.01). The company’s revenue for the quarter increased 70.2% year over year. As a group, equity research analysts expect Lyft to post -1.58 earnings per share for the current year.
In related news, insider Kristin Sverchek sold 3,938 shares of the company in a trade on Tuesday, March 29. The shares were sold at an average price of $40.00, for a total value of $157,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. 5.77% of the shares are held by insiders.
A number of institutional investors and hedge funds have recently changed their positions in LYFT. Paradigm Financial Partners LLC increased its position in Lyft by 600.0% in the fourth quarter. Paradigm Financial Partners LLC now owns 2,357,411 shares of the ride-sharing company valued at $104,905,000 after acquiring an additional 2,020,638 shares in the last quarter. Norges Bank bought a new stake in Lyft in the fourth quarter worth $82,882,000. American Century Companies Inc. increased its position in Lyft by 23.8% in the fourth quarter. American Century Companies Inc. now owns 4,818,637 shares of the ride-hailing company valued at $205,900,000 after acquiring an additional 925,638 shares in the last quarter. Primecap Management Co. CA increased its position in Lyft by 15.2% in the third quarter. Primecap Management Co. CA now owns 4,842,341 shares of the rideshare company valued at $259,501,000 after acquiring an additional 640,410 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Lyft by 57.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,520,000 shares of the rideshare company valued at $64,950,000 after acquiring an additional 554,000 shares in the last quarter. 80.43% of the shares are held by hedge funds and other institutional investors.
About Lyft (Get an evaluation)
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 provide riders with personalized, on-demand access to a variety of mobility options. It supplies the carpooling market, which connects drivers with passengers; Express Drive, a flexible car rental program for drivers; Lyft Rentals, which provides vehicles for long-distance trips; and a network of shared bicycles and scooters in different cities to meet the needs of cyclists for short trips.
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