Lyft (NASDAQ:LYFT) Price Target Raised to $18.00 at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its price target upped by BMO Capital Markets from $15.00 to $18.00 in a research report released on Wednesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the ride-sharing company’s stock.

Other analysts have also issued reports about the stock. Morgan Stanley upped their price target on shares of Lyft from $12.00 to $13.00 and gave the company an equal weight rating in a research report on Monday. DA Davidson increased their price objective on Lyft from $15.00 to $18.00 and gave the company a neutral rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on Lyft from $15.00 to $18.00 and gave the company an equal weight rating in a report on Monday, April 8th. Moffett Nathanson upgraded shares of Lyft from a sell rating to a neutral rating in a report on Wednesday, February 14th. Finally, Barclays lifted their target price on shares of Lyft from $14.00 to $17.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Lyft has an average rating of Hold and an average target price of $16.70.

Lyft Price Performance

Shares of NASDAQ LYFT traded down $0.54 during midday trading on Wednesday, hitting $17.24. 12,924,053 shares of the company’s stock were exchanged, compared to its average volume of 16,567,121. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -36.87 and a beta of 2.05. The business’s fifty day moving average price is $17.75 and its two-hundred day moving average price is $14.58.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. As a group, research analysts forecast that Lyft will post -0.35 EPS for the current fiscal year.

Insider Transactions at Lyft

In other Lyft news, President Kristin Sverchek sold 5,670 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the sale, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total value of $275,327.24. Following the sale, the director now owns 1,204,071 shares in the company, valued at approximately $21,083,283.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Kristin Sverchek sold 5,670 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the transaction, the president now owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The disclosure for this sale can be found here. Insiders have sold 280,526 shares of company stock valued at $5,358,031 over the last quarter. 3.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after buying an additional 664 shares during the last quarter. Commerce Bank raised its position in Lyft by 2.9% during the fourth quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after purchasing an additional 782 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in shares of Lyft by 21.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after purchasing an additional 814 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CWM LLC raised its holdings in Lyft by 15.4% during the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after buying an additional 1,093 shares during the period. Institutional investors own 83.07% of the company’s stock.

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.