Lyft (NASDAQ:LYFT) PT Raised to $19.00

Lyft (NASDAQ:LYFT) had its price target raised by stock analysts at Sanford C. Bernstein from $15.00 to $19.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the ride-sharing company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 10.21% from the company’s current price.

LYFT has been the subject of several other reports. Citigroup raised their target price on Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Wednesday. BMO Capital Markets upped their target price on shares of Lyft from $15.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company upped their price objective on Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.70.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $17.24 on Wednesday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -36.68 and a beta of 2.05. The business has a 50 day moving average price of $17.82 and a 200 day moving average price of $14.62. 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 has a twelve month low of $7.85 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.14. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Research analysts predict that Lyft will post -0.35 earnings per share for the current year.

Insider Transactions at Lyft

In related news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.50, for a total value of $61,250.00. Following the transaction, the president now owns 60,778 shares in the company, valued at $1,063,615. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.50, for a total value of $61,250.00. Following the transaction, the president now owns 60,778 shares of the company’s stock, valued at approximately $1,063,615. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the sale, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Insiders sold a total of 280,526 shares of company stock worth $5,358,031 over the last 90 days. 3.16% of the stock is owned by insiders.

Institutional Trading of Lyft

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after buying an additional 664 shares during the period. Commerce Bank grew its position in Lyft by 2.9% in the fourth quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after purchasing an additional 782 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Lyft by 21.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after purchasing an additional 814 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. Finally, CWM LLC lifted its position in Lyft by 15.4% during the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock worth $123,000 after buying an additional 1,093 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

About Lyft

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.