Tigress Financial Issues Positive Forecast for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its price objective hoisted by Tigress Financial from $24.00 to $26.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. Tigress Financial’s price objective would suggest a potential upside of 56.82% from the stock’s current price.

A number of other brokerages have also issued reports on LYFT. Bank of America lifted their price target on Lyft from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald upped their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their price objective on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Twenty-eight analysts have rated the stock with 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 stock currently has an average rating of “Hold” and an average target price of $17.55.

Lyft Price Performance

LYFT stock traded down $0.19 during mid-day trading on Thursday, reaching $16.58. 3,736,674 shares of the company’s stock were exchanged, compared to its average volume of 15,115,029. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -103.63, a price-to-earnings-growth ratio of 4.81 and a beta of 2.04. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The stock’s 50 day moving average is $13.97 and its 200 day moving average is $13.59. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

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

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated 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 directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the transaction, the chief accounting officer now directly owns 332,243 shares in the company, valued at $5,987,018.86. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,799 shares of company stock valued at $537,082. Insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several hedge funds have recently made changes to their positions in LYFT. Crossmark Global Holdings Inc. boosted its stake in Lyft by 4.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after buying an additional 993 shares during the last quarter. XTX Topco Ltd increased its position in Lyft by 2.5% during the third quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock worth $538,000 after purchasing an additional 1,043 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Lyft by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after purchasing an additional 1,160 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Lyft by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock valued at $1,054,000 after buying an additional 1,315 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in shares of Lyft by 6.1% during the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock worth $350,000 after buying an additional 1,437 shares during the last quarter. Institutional investors and hedge funds 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.