Lyft’s (LYFT) Neutral Rating Reaffirmed at Susquehanna

Lyft (NASDAQ:LYFT)‘s stock had its “neutral” rating reissued by investment analysts at Susquehanna in a note issued to investors on Monday, Marketbeat reports. They currently have a $14.00 price target on the ride-sharing company’s stock, down from their prior price target of $18.00. Susquehanna’s price objective indicates a potential upside of 0.86% from the company’s current price.

Several other analysts also recently weighed in on LYFT. Roth Capital upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Thursday, August 7th. Oppenheimer cut their price objective on shares of Lyft from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. TD Cowen upgraded shares of Lyft from a “hold” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $21.00 in a research report on Tuesday, June 24th. Citigroup reiterated a “hold” rating and issued a $14.00 price objective (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. Finally, Tigress Financial reiterated a “buy” rating and issued a $28.00 price objective (up from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.70.

Lyft Trading Up 3.1%

Lyft stock opened at $13.88 on Monday. The firm’s 50-day moving average is $14.96 and its 200-day moving average is $13.75. 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 has a 1 year low of $9.66 and a 1 year high of $19.07. The company has a market cap of $5.80 billion, a P/E ratio of 57.84, a PEG ratio of 2.94 and a beta of 2.26.

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

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 879,498 shares in the company, valued at $13,896,068.40. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John David Risher purchased 6,538 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the acquisition, the chief executive officer directly owned 11,791,340 shares of the company’s stock, valued at $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lyft

Large investors have recently made changes to their positions in the company. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft during the fourth quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 valued at $31,000 after acquiring an additional 1,203 shares during the period. Atwood & Palmer Inc. purchased a new position in Lyft during the second quarter valued at approximately $32,000. GAMMA Investing LLC increased its stake in Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after buying an additional 1,237 shares during the period. Finally, Bogart Wealth LLC increased its stake in Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 83.07% 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. 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.