Lyft (NASDAQ:LYFT) Given New $15.00 Price Target at Cantor Fitzgerald

Lyft (NASDAQ:LYFT) had its target price cut by Cantor Fitzgerald from $17.00 to $15.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. They currently have a neutral rating on the ride-sharing company’s stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company cut their price target on Lyft from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, October 5th. JPMorgan Chase & Co. upped their price target on Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. BTIG Research reiterated a “neutral” rating on shares of Lyft in a research report on Friday, September 18th. Piper Sandler reissued an “overweight” rating and issued a $21.00 price objective (up from $20.00) on shares of Lyft in a report on Friday, August 7th. Finally, Tigress Financial reissued a “buy” rating and issued a $28.00 price objective on shares of Lyft in a report on Wednesday, June 24th. Eleven investment analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.97.

Lyft Price Performance

Shares of NASDAQ LYFT opened at $16.99 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The company’s fifty day moving average price is $16.27 and its 200 day moving average price is $15.12. Lyft has a 1 year low of $12.46 and a 1 year high of $25.54.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Equities analysts forecast that Lyft will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $14.64, for a total value of $219,600.00. Following the sale, the chief financial officer owned 837,303 shares in the company, valued at $12,258,115.92. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Llewellyn sold 36,214 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $16.14, for a total transaction of $584,493.96. Following the sale, the insider directly owned 817,517 shares of the company’s stock, valued at $13,194,724.38. This represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 112,020 shares of company stock valued at $1,850,559. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Lyft

Institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC boosted its stake in Lyft by 11.8% during the 3rd quarter. CWA Asset Management Group LLC now owns 155,265 shares of the ride-sharing company’s stock worth $2,331,000 after purchasing an additional 16,438 shares during the last quarter. Nicollet Investment Management Inc. grew its holdings in shares of Lyft by 2.0% during the third quarter. Nicollet Investment Management Inc. now owns 50,501 shares of the ride-sharing company’s stock worth $758,000 after buying an additional 999 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Lyft by 5.0% during the third quarter. Wedmont Private Capital now owns 13,517 shares of the ride-sharing company’s stock worth $218,000 after buying an additional 642 shares in the last quarter. Insight Wealth Strategies LLC purchased a new stake in shares of Lyft during the third quarter worth $6,224,000. Finally, QRG Capital Management Inc. raised its position in shares of Lyft by 8.6% in the second quarter. QRG Capital Management Inc. now owns 16,658 shares of the ride-sharing company’s stock valued at $243,000 after buying an additional 1,314 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Company Profile

Lyft, Inc is a technology company that operates a transportation network platform in the United States and Canada. Its platform connects passengers with drivers through a mobile application and website, primarily offering on-demand rides in private vehicles, taxis and other transportation options.

The company also provides access to bicycles and scooters in select markets, as well as vehicle rentals and transportation solutions for businesses, healthcare organizations and other institutions.