Lyft (NASDAQ:LYFT) Given New $24.00 Price Target at Tigress Financial

Lyft (NASDAQ:LYFT) had its price objective raised by Tigress Financial from $22.00 to $24.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a buy rating on the ride-sharing company’s stock.

LYFT has been the topic of several other research reports. Nomura cut Lyft from a neutral rating to a reduce rating and lifted their target price for the company from $11.70 to $13.00 in a research report on Friday, December 29th. TD Cowen lifted their price objective on shares of Lyft from $10.00 to $12.00 and gave the stock a market perform rating in a report on Monday, January 22nd. Moffett Nathanson upgraded shares of Lyft from a sell rating to a neutral rating in a report on Wednesday, February 14th. The Goldman Sachs Group cut shares of Lyft from a buy rating to a neutral rating and boosted their price target for the stock from $12.00 to $15.00 in a report on Thursday, January 11th. Finally, Argus raised shares of Lyft from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $14.60.

Lyft Stock Down 3.5 %

Shares of NASDAQ:LYFT opened at $16.71 on Thursday. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82. The stock’s 50 day moving average is $17.58 and its 200-day moving average is $13.99. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

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

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total transaction of $275,327.24. Following the sale, the director now owns 1,204,071 shares in the company, valued at $21,083,283.21. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of Lyft stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total transaction of $275,327.24. Following the completion of the transaction, the director now owns 1,204,071 shares of the company’s stock, valued at approximately $21,083,283.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Kristin Sverchek sold 16,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.00, for a total transaction of $320,000.00. Following the completion of the sale, the president now directly owns 80,978 shares in the company, valued at $1,619,560. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,526 shares of company stock worth $5,195,771. 3.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LYFT. Allworth Financial LP raised its position in shares of Lyft by 685.2% in the fourth quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 1,672 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Lyft in the 1st quarter worth about $41,000. GAMMA Investing LLC increased its stake in 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 acquiring an additional 664 shares during the last quarter. a16z Perennial Management L.P. purchased a new stake in shares of Lyft in the 4th quarter valued at about $34,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Lyft during the fourth quarter worth about $34,000. 83.07% of the stock is owned by 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.