Lyft (NASDAQ:LYFT) Price Target Lowered to $15.00 at DA Davidson

Lyft (NASDAQ:LYFT) had its target price reduced by DA Davidson from $16.00 to $15.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the ride-sharing company’s stock.

LYFT has been the subject of several other research reports. Roth Mkm upped their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital increased their target price on Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Tigress Financial lifted their target price on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Morgan Stanley upped their price target on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, January 6th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.22.

Lyft Trading Down 0.3 %

Shares of Lyft stock opened at $13.43 on Wednesday. The firm has a market cap of $5.57 billion, a PE ratio of -83.94, a P/E/G ratio of 1.94 and a beta of 2.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The business’s fifty day moving average is $13.88 and its two-hundred day moving average is $13.52.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Analysts anticipate that Lyft will post 0.06 earnings per share for the current year.

Lyft declared that its board has approved a share buyback plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Logan Green sold 10,919 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.07% of the stock is owned by company insiders.

Institutional Trading of Lyft

Several hedge funds and other institutional investors have recently bought and sold shares of LYFT. True Wealth Design LLC acquired a new position in shares of Lyft in the 3rd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft during the 4th quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new position in Lyft during the fourth quarter worth $31,000. Plato Investment Management Ltd acquired a new position in Lyft in the fourth quarter worth $35,000. Finally, Byrne Asset Management LLC bought a new stake in Lyft during the fourth quarter valued at $35,000. 83.07% of the stock is 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.