Lyft (NASDAQ:LYFT) Price Target Lowered to $14.00 at Cantor Fitzgerald

Lyft (NASDAQ:LYFT) had its price objective lowered by Cantor Fitzgerald from $15.00 to $14.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the ride-sharing company’s stock.

A number of other brokerages also recently weighed in on LYFT. Roth Mkm upped their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. BMO Capital Markets upped their target price on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Susquehanna lifted their price target on Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Wedbush dropped their price objective on Lyft from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Tigress Financial raised their price objective on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.31.

Lyft Price Performance

NASDAQ:LYFT opened at $13.25 on Wednesday. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $14.00 and a 200-day moving average price of $13.52.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. As a group, research analysts forecast that Lyft will post 0.06 earnings per share for the current year.

Lyft announced that its Board of Directors has approved a share buyback plan on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Logan Green sold 10,919 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the sale, the director now owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd lifted its position in shares of Lyft by 23.1% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 49,688 shares of the ride-sharing company’s stock valued at $641,000 after acquiring an additional 9,332 shares during the period. World Investment Advisors bought a new stake in Lyft in the fourth quarter valued at $185,000. Bryce Point Capital LLC bought a new stake in Lyft in the fourth quarter valued at $424,000. Groupama Asset Managment acquired a new position in shares of Lyft during the fourth quarter valued at about $12,900,000. Finally, Trexquant Investment LP boosted its position in shares of Lyft by 70.7% during the 4th quarter. Trexquant Investment LP now owns 2,391,574 shares of the ride-sharing company’s stock worth $30,851,000 after purchasing an additional 990,662 shares in the last quarter. 83.07% of the stock is currently 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.