Lyft (NASDAQ:LYFT) Price Target Lowered to $15.00 at Evercore ISI

Lyft (NASDAQ:LYFT) had its price objective reduced by Evercore ISI from $19.00 to $15.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an in-line rating on the ride-sharing company’s stock.

Several other analysts also recently commented on the stock. DA Davidson upped their price objective on shares of Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. TD Cowen upped their price target on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Jefferies Financial Group increased their price target on Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald decreased their price objective on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Tigress Financial raised their target price on Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and an average target price of $17.31.

Lyft Stock Down 7.9 %

NASDAQ LYFT opened at $13.25 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s fifty day moving average price is $14.00 and its 200 day moving average price is $13.52. 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 Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. As a group, analysts anticipate that Lyft will post 0.06 EPS for the current fiscal year.

Lyft declared that its board has authorized a stock buyback program on Tuesday, February 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Lyft 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 value of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyft

Large investors have recently made changes to their positions in the stock. True Wealth Design LLC purchased a new position in Lyft during the third quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft in the 4th quarter worth $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Lyft in the 4th quarter worth $31,000. Plato Investment Management Ltd purchased a new position in shares of Lyft during the 4th quarter worth $35,000. Finally, Byrne Asset Management LLC acquired a new position in shares of Lyft during the 4th quarter valued at about $35,000. 83.07% of the stock is currently owned by hedge funds and other 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.