Lyft (NASDAQ:LYFT) Given New $18.00 Price Target at Truist Financial

Lyft (NASDAQ:LYFT) had its price objective lifted by Truist Financial from $15.00 to $18.00 in a research report released on Wednesday, Benzinga reports. They currently have a hold rating on the ride-sharing company’s stock.

Other analysts have also issued reports about the company. Moffett Nathanson raised Lyft from a sell rating to a neutral rating in a research report on Wednesday, February 14th. Barclays increased their target price on Lyft from $14.00 to $17.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. BMO Capital Markets assumed coverage on shares of Lyft in a research note on Tuesday, January 9th. They set a market perform rating and a $15.00 price target for the company. Citigroup lifted their price objective on shares of Lyft from $13.00 to $15.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group cut shares of Lyft from a buy rating to a neutral rating and raised their price target for the company from $12.00 to $15.00 in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lyft currently has an average rating of Hold and a consensus price target of $16.70.

Lyft Stock Down 3.0 %

Shares of LYFT stock traded down $0.54 during trading hours on Wednesday, hitting $17.24. 12,924,053 shares of the company were exchanged, compared to its average volume of 16,567,121. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. Lyft has a 52 week low of $7.85 and a 52 week high of $20.82. The company has a market capitalization of $6.89 billion, a PE ratio of -36.87 and a beta of 2.05. The business has a 50 day moving average of $17.75 and a two-hundred day moving average of $14.58.

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

Insiders Place Their Bets

In other news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.50, for a total transaction of $61,250.00. Following the transaction, the president now directly owns 60,778 shares in the company, valued at approximately $1,063,615. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John Patrick Zimmer sold 15,724 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the transaction, the director now directly owns 1,204,071 shares of the company’s stock, valued at approximately $21,083,283.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.50, for a total transaction of $61,250.00. Following the transaction, the president now directly owns 60,778 shares of the company’s stock, valued at $1,063,615. The disclosure for this sale can be found here. Insiders have sold 280,526 shares of company stock worth $5,358,031 in the last three months. 3.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Lyft

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in Lyft by 5.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,886 shares of the ride-sharing company’s stock worth $336,000 after purchasing an additional 1,535 shares during the period. Xponance Inc. grew its stake in Lyft by 10.9% during the 3rd quarter. Xponance Inc. now owns 49,200 shares of the ride-sharing company’s stock worth $519,000 after buying an additional 4,821 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Lyft by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 2,459,043 shares of the ride-sharing company’s stock valued at $25,918,000 after buying an additional 27,928 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lyft by 16.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,727 shares of the ride-sharing company’s stock worth $703,000 after acquiring an additional 9,663 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Lyft by 87.6% during the third quarter. Fifth Third Bancorp now owns 24,270 shares of the ride-sharing company’s stock valued at $256,000 after acquiring an additional 11,330 shares in 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.