Roth Mkm Issues Positive Forecast for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its price target boosted by Roth Mkm from $13.00 to $16.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the ride-sharing company’s stock.

Several other equities research analysts have also recently weighed in on LYFT. Cantor Fitzgerald boosted their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Truist Financial boosted their price objective on Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday. Susquehanna reduced their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Melius started coverage on Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price objective for the company. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.23.

Lyft Stock Performance

NASDAQ LYFT opened at $17.78 on Thursday. The company has a market cap of $7.29 billion, a P/E ratio of -111.13 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 stock has a 50-day moving average of $12.96 and a two-hundred day moving average of $13.51. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company posted ($0.02) earnings per share. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. As a group, analysts anticipate that Lyft will post -0.06 EPS for the current year.

Insiders Place Their Bets

In related news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the sale, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now owns 929,638 shares in the company, valued at $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock valued at $380,048 over the last quarter. Company insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Lyft during the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft in the second quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new stake in Lyft in the third quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft in the first quarter worth $41,000. Finally, Quarry LP lifted its stake in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after buying an additional 3,468 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

About Lyft

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.