Lyft (NASDAQ:LYFT) Price Target Cut to $14.00 by Analysts at Cantor Fitzgerald

Lyft (NASDAQ:LYFT) had its price objective decreased by investment analysts at Cantor Fitzgerald from $15.00 to $14.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the ride-sharing company’s stock. Cantor Fitzgerald’s price target would suggest a potential downside of 2.71% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research report on Wednesday. Susquehanna upped their price target on Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Benchmark upgraded shares of 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. Loop Capital increased their price target on shares of Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Wedbush dropped their price objective on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $17.63.

Lyft Price Performance

LYFT opened at $14.39 on Wednesday. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.97 billion, a P/E ratio of -89.94, a PEG ratio of 1.94 and a beta of 2.16. The stock has a fifty day moving average of $14.00 and a 200-day moving average of $13.52.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share 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%. Equities analysts forecast that Lyft will post 0.06 EPS for the current fiscal year.

Lyft announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Lyft

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 completion of the transaction, the director now directly owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.07% of the stock is owned by insiders.

Institutional Trading of Lyft

Several institutional investors and hedge funds have recently bought and sold shares of LYFT. Vanguard Group Inc. increased its position in shares of Lyft by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock worth $464,434,000 after purchasing an additional 984,907 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Lyft by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock valued at $230,174,000 after buying an additional 80,675 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after buying an additional 2,302,248 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after acquiring an additional 1,735,208 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of Lyft by 3.8% in the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock valued at $82,768,000 after purchasing an additional 235,510 shares during the period. 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.