Lyft (NASDAQ:LYFT) Given New $18.00 Price Target at BMO Capital Markets

Lyft (NASDAQ:LYFT) had its price objective lifted by BMO Capital Markets from $13.00 to $18.00 in a research report report published on Thursday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the ride-sharing company’s stock.

Several other research firms have also recently weighed in on LYFT. Jefferies Financial Group increased their price objective on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up from $17.00) on shares of Lyft in a research report on Thursday. Evercore ISI upped their target price on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday. Susquehanna cut their price target on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup reduced their price objective on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.23.

Lyft Trading Up 0.5 %

Shares of NASDAQ LYFT traded up $0.09 during trading on Thursday, reaching $17.78. The company had a trading volume of 28,925,410 shares, compared to its average volume of 13,179,118. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The stock has a market cap of $7.29 billion, a P/E ratio of -111.13 and a beta of 2.04. The company’s fifty day moving average price is $12.96 and its 200-day moving average price is $13.54.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) EPS. As a group, research analysts expect that Lyft will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares of the company’s stock, valued at $8,988,544.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the transaction, the insider now directly owns 764,332 shares of the company’s stock, valued at $8,988,544.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Logan Green sold 10,323 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,664 shares of company stock valued at $380,048. Insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYFT. Allspring Global Investments Holdings LLC bought a new stake in Lyft in the 1st quarter valued at about $41,000. Janney Montgomery Scott LLC boosted its position in Lyft by 48.0% during the first quarter. Janney Montgomery Scott LLC now owns 78,609 shares of the ride-sharing company’s stock worth $1,521,000 after purchasing an additional 25,500 shares during the period. Empowered Funds LLC increased its stake in shares of Lyft by 24.4% in the first quarter. Empowered Funds LLC now owns 16,557 shares of the ride-sharing company’s stock worth $320,000 after purchasing an additional 3,247 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Lyft in the first quarter valued at approximately $1,262,000. Finally, Swiss National Bank lifted its stake in shares of Lyft by 2.0% during the 1st quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock valued at $13,218,000 after buying an additional 13,300 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.