Lyft (NASDAQ:LYFT) Given Neutral Rating at DA Davidson

Lyft (NASDAQ:LYFT)‘s stock had its “neutral” rating reaffirmed by equities research analysts at DA Davidson in a research note issued on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the ride-sharing company’s stock. DA Davidson’s price target indicates a potential upside of 34.41% from the stock’s current price.

Other analysts have also issued research reports about the company. BMO Capital Markets decreased their price objective on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Loop Capital decreased their price target on Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Cantor Fitzgerald lowered their price target on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Bank of America downgraded shares of Lyft from a “buy” rating to an “underperform” rating and set a $10.50 price objective on the stock. in a report on Thursday, April 3rd. Finally, Susquehanna lowered their target price on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.45.

Lyft Trading Up 3.0 %

Shares of NASDAQ LYFT opened at $11.16 on Wednesday. Lyft has a 1-year low of $8.93 and a 1-year high of $19.07. The business has a fifty day moving average price of $12.08 and a 200 day moving average price of $13.66. The stock has a market capitalization of $4.66 billion, a P/E ratio of 186.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT) last released 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 net margin of 0.39% and a return on equity of 8.03%. Equities research analysts expect that Lyft will post 0.22 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, Director Logan Green sold 11,411 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company’s stock, valued at $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Large investors have recently bought and sold shares of the company. QRG Capital Management Inc. lifted its position in shares of Lyft by 3.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock valued at $316,000 after acquiring an additional 903 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after purchasing an additional 969 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Lyft by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company’s stock valued at $207,000 after purchasing an additional 970 shares in the last quarter. US Bancorp DE lifted its holdings in Lyft by 2.6% in the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock valued at $536,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company’s stock worth $46,000 after purchasing an additional 1,058 shares during the last quarter. 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.