Lyft (NASDAQ:LYFT) Shares Gap Down – Time to Sell?

Shares of Lyft, Inc. (NASDAQ:LYFT) gapped down prior to trading on Monday . The stock had previously closed at $18.12, but opened at $17.53. Lyft shares last traded at $16.93, with a volume of 4,179,178 shares traded.

Analysts Set New Price Targets

LYFT has been the topic of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Cantor Fitzgerald raised their target price on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley boosted their target price on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Evercore ISI increased their price target on shares of Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets increased their price target on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and an average price target of $17.48.

Lyft Price Performance

The company has a market capitalization of $7.02 billion, a P/E ratio of -109.25, a PEG ratio of 5.26 and a beta of 2.04. The business has a 50 day simple moving average of $13.64 and a 200-day simple moving average of $13.57. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Lyft’s revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) earnings per share. Analysts predict that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the sale, the director now owns 330,790 shares in the company, valued at $3,843,779.80. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the sale, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,987 shares of company stock valued at $619,025. Insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in shares of Lyft in the third quarter valued at $27,000. International Assets Investment Management LLC bought a new position in Lyft during the 2nd quarter worth $35,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lyft in the 2nd quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lyft during the 3rd quarter worth $38,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Lyft in the 1st quarter valued at approximately $41,000. 83.07% of the stock is owned by institutional investors.

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.