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

Lyft (NASDAQ:LYFT) had its price objective lifted by research analysts at Susquehanna from $10.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the ride-sharing company’s stock. Susquehanna’s price target suggests a potential downside of 1.85% from the stock’s current price.

A number of other equities analysts have also recently issued reports on LYFT. Wolfe Research initiated coverage on Lyft in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Cantor Fitzgerald boosted their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target (up previously from $12.00) on shares of Lyft in a research note on Thursday, November 7th. TD Cowen lifted their price objective on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, Morgan Stanley upped their target price on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus target price of $17.48.

Lyft Trading Down 1.3 %

LYFT stock opened at $18.34 on Monday. The firm’s fifty day simple moving average is $13.10 and its two-hundred day simple moving average is $13.51. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of -116.19 and a beta of 2.04. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating 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 1.67%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm posted ($0.02) EPS. The firm’s revenue was up 31.6% compared to the same quarter last year. As a group, analysts anticipate that Lyft will post -0.06 earnings per share for the current year.

Insider Activity

In related news, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares in the company, valued at $8,988,544.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction dated 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 owns 764,332 shares of the company’s stock, valued at approximately $8,988,544.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 7,188 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the completion of the transaction, the director now directly owns 932,062 shares in the company, valued at $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,987 shares of company stock worth $619,025 over the last 90 days. 3.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft in the first quarter worth $41,000. Brown Brothers Harriman & Co. purchased a new stake in Lyft in the second quarter valued at $35,000. International Assets Investment Management LLC purchased a new stake in Lyft in the second quarter valued at $35,000. Capital Performance Advisors LLP acquired a new stake in Lyft during the 3rd quarter worth about $38,000. Finally, Quarry LP raised its stake in shares of Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after buying an additional 3,468 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.