Lyft’s (LYFT) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Lyft (NASDAQ:LYFT) in a research note published on Monday, Benzinga reports. They currently have a $13.00 price objective on the ride-sharing company’s stock.

Several other equities analysts also recently commented on the company. Raymond James began coverage on Lyft in a research report on Tuesday, September 24th. They set a market perform rating for the company. Wells Fargo & Company reduced their target price on shares of Lyft from $17.00 to $12.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lyft from $15.00 to $11.00 and set a hold rating for the company in a research report on Thursday, August 8th. Loop Capital reduced their price target on shares of Lyft from $20.00 to $16.00 and set a buy rating on the stock in a research report on Tuesday, September 3rd. Finally, Truist Financial cut their target price on shares of Lyft from $18.00 to $13.00 and set a hold rating for the company in a research note on Thursday, August 8th. Twenty-six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lyft currently has an average rating of Hold and a consensus price target of $15.65.

Lyft Stock Down 0.7 %

LYFT opened at $12.75 on Monday. The company has a market capitalization of $5.14 billion, a P/E ratio of -27.13 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s fifty day moving average price is $11.58 and its two-hundred day moving average price is $14.45. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The firm’s revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) EPS. On average, analysts anticipate that Lyft will post -0.16 EPS for the current year.

Insider Activity

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the sale, the insider now owns 764,332 shares of the company’s stock, valued at $8,988,544.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the sale, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock valued at $380,048 in the last quarter. Company insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

A number of institutional investors have recently modified their holdings of the company. FinTrust Capital Advisors LLC grew its holdings in shares of Lyft by 277.8% during the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Lyft during the 4th quarter worth approximately $34,000. International Assets Investment Management LLC bought a new position in shares of Lyft during the 2nd quarter worth approximately $35,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lyft in the second quarter valued at approximately $35,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Lyft in the fourth quarter worth $40,000. 83.07% of the stock is currently owned by institutional investors.

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.