Lyft’s (LYFT) “Market Perform” Rating Reiterated at BMO Capital Markets

Lyft (NASDAQ:LYFT)‘s stock had its “market perform” rating reiterated by research analysts at BMO Capital Markets in a report released on Thursday, Marketbeat reports. They presently have a $16.00 price objective on the ride-sharing company’s stock, up from their prior price objective of $15.00. BMO Capital Markets’ target price would indicate a potential upside of 19.21% from the stock’s previous close.

Several other research firms have also commented on LYFT. DA Davidson reissued a “neutral” rating and set a $15.00 price target on shares of Lyft in a research report on Wednesday, April 16th. Morgan Stanley lowered their price target on Lyft from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. UBS Group raised their price target on Lyft from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Wall Street Zen raised Lyft from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Finally, Wells Fargo & Company raised their price target on Lyft from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus price target of $16.84.

Lyft Stock Performance

LYFT stock opened at $13.42 on Thursday. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 55.93, a PEG ratio of 2.93 and a beta of 2.26. The firm has a 50-day simple moving average of $15.03 and a two-hundred day simple moving average of $13.75. Lyft has a one year low of $9.53 and a one year high of $19.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.17). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. On average, equities analysts forecast that Lyft will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the transaction, the director directly owned 879,498 shares in the company, valued at approximately $13,896,068.40. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jill Beggs sold 1,572 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the transaction, the director owned 20,467 shares of the company’s stock, valued at $335,863.47. This represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. Spurstone Advisory Services LLC purchased a new position in Lyft in the 4th quarter valued at $25,000. MassMutual Private Wealth & Trust FSB boosted its stake in Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Lyft during the second quarter worth $32,000. GAMMA Investing LLC boosted its stake in Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after buying an additional 1,237 shares during the last quarter. Finally, Bogart Wealth LLC boosted its stake in Lyft by 1,242.2% during the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.