Lyft (NASDAQ:LYFT – Get Rating) had its target price reduced by Credit Suisse Group from $50.00 to $46.00 in a research report report published on Wednesday, The Fly reports. They currently have an outperform rating on the ride-sharing company’s stock.
Several other analysts have also recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Lyft from $36.00 to $24.00 and set a buy rating for the company in a research note on Thursday, June 9th. BTIG Research lowered their price objective on shares of Lyft from $60.00 to $20.00 and set a buy rating for the company in a research note on Tuesday, July 19th. Sanford C. Bernstein assumed coverage on shares of Lyft in a report on Tuesday, May 24th. They set a market perform rating and a $22.00 target price on the stock. Susquehanna lowered shares of Lyft from a positive rating to a neutral rating and reduced their target price for the company from $54.00 to $25.00 in a report on Wednesday, May 4th. Finally, Barclays reduced their target price on shares of Lyft from $47.00 to $32.00 in a report on Wednesday, May 4th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $38.57.
Lyft Price Performance
LYFT stock opened at $20.28 on Wednesday. Lyft has a one year low of $11.96 and a one year high of $57.68. The company has a 50 day moving average price of $14.89 and a two-hundred day moving average price of $27.17. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.68.
Institutional Investors Weigh In On Lyft
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Lyft by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 25,428,704 shares of the ride-sharing company’s stock valued at $976,462,000 after purchasing an additional 483,630 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Lyft by 46.4% in the 1st quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock valued at $248,485,000 after purchasing an additional 2,050,430 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Lyft by 25.9% in the 1st quarter. American Century Companies Inc. now owns 6,068,020 shares of the ride-sharing company’s stock valued at $233,012,000 after purchasing an additional 1,249,383 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lyft by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 3,820,320 shares of the ride-sharing company’s stock valued at $163,038,000 after purchasing an additional 210,699 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Lyft during the 2nd quarter valued at about $34,868,000. Institutional investors and hedge funds own 80.43% 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. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
- Get a free copy of the StockNews.com research report on Lyft (LYFT)
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