A number of research firms have changed their ratings and price targets for Lyft (NASDAQ: LYFT):
- 5/9/2024 – Lyft had its price target raised by analysts at The Goldman Sachs Group, Inc. from $16.00 to $19.00. They now have a “neutral” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at Piper Sandler from $22.00 to $23.00. They now have an “overweight” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at Royal Bank of Canada from $23.00 to $24.00. They now have an “outperform” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at Citigroup Inc. from $15.00 to $18.00. They now have a “neutral” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at Wedbush from $15.00 to $18.00. They now have a “neutral” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at DA Davidson from $15.00 to $18.00. They now have a “neutral” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at Sanford C. Bernstein from $15.00 to $19.00. They now have a “market perform” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at BMO Capital Markets from $15.00 to $18.00. They now have a “market perform” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at TD Cowen from $14.00 to $16.00. They now have a “hold” rating on the stock.
- 5/8/2024 – Lyft had its price target raised by analysts at Truist Financial Co. from $15.00 to $18.00. They now have a “hold” rating on the stock.
- 5/8/2024 – Lyft had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
- 5/8/2024 – Lyft had its price target raised by analysts at Barclays PLC from $17.00 to $20.00. They now have an “equal weight” rating on the stock.
- 5/6/2024 – Lyft had its price target raised by analysts at Morgan Stanley from $12.00 to $13.00. They now have an “equal weight” rating on the stock.
- 4/18/2024 – Lyft had its price target raised by analysts at Tigress Financial from $22.00 to $24.00. They now have a “buy” rating on the stock.
- 4/8/2024 – Lyft had its price target raised by analysts at Wells Fargo & Company from $15.00 to $18.00. They now have an “equal weight” rating on the stock.
Lyft Price Performance
Shares of NASDAQ:LYFT traded down $0.68 on Thursday, reaching $15.43. 12,542,719 shares of the company traded hands, compared to its average volume of 16,047,483. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. Lyft, Inc. has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The stock has a market capitalization of $6.17 billion, a PE ratio of -32.83 and a beta of 2.05. The company’s 50 day moving average is $17.65 and its 200-day moving average is $15.10.
Insider Transactions at Lyft
In related news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the sale, the chief accounting officer now directly owns 255,817 shares in the company, valued at $4,108,421.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Logan Green sold 11,867 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $15.69, for a total value of $186,193.23. Following the completion of the sale, the director now directly owns 346,341 shares in the company, valued at $5,434,090.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $16.06, for a total transaction of $290,123.90. Following the completion of the sale, the chief accounting officer now owns 255,817 shares of the company’s stock, valued at $4,108,421.02. The disclosure for this sale can be found here. Insiders sold a total of 267,055 shares of company stock valued at $5,128,587 over the last quarter. Company insiders own 3.16% of the company’s stock.
Institutional Investors Weigh In On 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.
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