Lyft (NASDAQ:LYFT) Price Target Lowered to $17.00 at Wells Fargo & Company

Lyft (NASDAQ:LYFT) had its price target trimmed by Wells Fargo & Company from $18.00 to $17.00 in a report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the ride-sharing company’s stock.

Several other research analysts have also commented on LYFT. Morgan Stanley upped their price objective on shares of Lyft from $17.00 to $18.00 and gave the stock an equal weight rating in a report on Friday, June 7th. Sanford C. Bernstein upped their price objective on shares of Lyft from $15.00 to $19.00 and gave the stock a market perform rating in a report on Wednesday, May 8th. TD Cowen increased their price target on shares of Lyft from $16.00 to $18.00 and gave the stock a hold rating in a research note on Friday, June 7th. DA Davidson increased their price target on shares of Lyft from $15.00 to $18.00 and gave the stock a neutral rating in a research note on Wednesday, May 8th. Finally, Gordon Haskett upgraded shares of Lyft from a hold rating to a buy rating and increased their price target for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $18.00.

Lyft Trading Up 5.3 %

NASDAQ:LYFT opened at $14.10 on Friday. The company has a fifty day moving average of $15.63 and a 200 day moving average of $15.73. Lyft has a 52 week low of $8.85 and a 52 week high of $20.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $5.69 billion, a P/E ratio of -30.00 and a beta of 2.09.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.17 billion. On average, research analysts predict that Lyft will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total value of $61,250.00. Following the transaction, the president now owns 60,778 shares of the company’s stock, valued at $1,063,615. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total transaction of $142,330.61. Following the sale, the chief accounting officer now owns 351,853 shares in the company, valued at approximately $5,513,536.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the sale, the president now owns 60,778 shares in the company, valued at approximately $1,063,615. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,833 shares of company stock valued at $590,509. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ogborne Capital Management LLC raised its stake in Lyft by 2.5% during the 1st quarter. Ogborne Capital Management LLC now owns 1,025,000 shares of the ride-sharing company’s stock worth $19,834,000 after acquiring an additional 25,000 shares during the period. EULAV Asset Management raised its position in shares of Lyft by 66.7% during the first quarter. EULAV Asset Management now owns 300,000 shares of the ride-sharing company’s stock valued at $5,805,000 after buying an additional 120,000 shares during the last quarter. Boston Partners bought a new stake in shares of Lyft during the first quarter valued at approximately $833,000. Virtu Financial LLC bought a new stake in shares of Lyft during the first quarter valued at approximately $1,746,000. Finally, Strategic Wealth Partners Ltd. bought a new stake in shares of Lyft during the first quarter valued at approximately $708,000. 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.