Lyft (NASDAQ:LYFT) Given New $18.00 Price Target at Truist Financial

Lyft (NASDAQ:LYFT) had its price target lifted by Truist Financial from $16.00 to $18.00 in a research report released on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the ride-sharing company’s stock.

LYFT has been the subject of several other research reports. Canaccord Genuity Group boosted their price objective on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Rosenblatt Securities decreased their target price on Lyft from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday. Wells Fargo & Company dropped their price objective on shares of Lyft from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. upped their price objective on Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $17.00 target price on shares of Lyft in a research report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.00.

Lyft Price Performance

Shares of LYFT stock traded down $0.75 during trading hours on Friday, hitting $17.09. The company had a trading volume of 23,907,601 shares, compared to its average volume of 9,795,465. The firm’s fifty day moving average is $16.20 and its 200 day moving average is $15.13. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 2.54, a PEG ratio of 1.03 and a beta of 2.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Thursday, November 5th. The ride-sharing company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.23). The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.92 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts predict that Lyft will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Stephen Hope sold 5,982 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.34, for a total value of $103,727.88. Following the completion of the transaction, the chief accounting officer owned 299,974 shares of the company’s stock, valued at $5,201,549.16. This represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Janey Whiteside sold 5,480 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $17.68, for a total transaction of $96,886.40. Following the sale, the director directly owned 60,704 shares in the company, valued at $1,073,246.72. The trade was a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,586 shares of company stock worth $1,024,326 over the last 90 days. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of Lyft by 58.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after acquiring an additional 2,467,010 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lyft by 36.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,289,671 shares of the ride-sharing company’s stock valued at $30,453,000 after buying an additional 613,494 shares during the last quarter. Engineers Gate Manager LP increased its stake in Lyft by 270.3% in the 2nd quarter. Engineers Gate Manager LP now owns 457,534 shares of the ride-sharing company’s stock valued at $6,685,000 after buying an additional 333,977 shares during the last quarter. Junto Capital Management LP bought a new position in shares of Lyft during the 2nd quarter worth approximately $36,926,000. Finally, Pacer Advisors Inc. lifted its position in shares of Lyft by 62.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,189,313 shares of the ride-sharing company’s stock worth $42,418,000 after buying an additional 1,223,536 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

More Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft reported record rides and gross bookings for Q3, with coverage also highlighting stronger adjusted EBITDA. The CEO said rider growth has remained in double digits for eight consecutive quarters. Lyft reports record rides and gross bookings
• Positive Sentiment: Lyft launched Lyft Go, a $9.99 monthly membership bundling DoorDash DashPass with ride credits. The offering could encourage customer retention and increase use across both services. Lyft debuts joint membership with DoorDash
• Positive Sentiment: Lyft is expanding its Waymo robotaxi fleet in Nashville, while CEO David Risher said autonomous vehicles are not hurting the company’s business. Partnerships may let Lyft participate in autonomous rides without building its own fleet. Lyft to expand Waymo robotaxi fleet
• Neutral Sentiment: Truist raised its price target to $18 from $16 but kept a Hold rating, suggesting limited near-term conviction despite the higher valuation estimate. Truist rating and target
• Negative Sentiment: Q3 results disappointed on reported figures: Lyft posted a $0.03-per-share loss and $1.82 billion in revenue, below cited consensus estimates. Legal, tax, and regulatory reserve changes and settlements—including a reported $117.9 million charge—dented results, although some coverage emphasized stronger adjusted performance. Lyft posts surprise loss on settlement
• Negative Sentiment: Analysts flagged slowing growth and execution risks. Scotiabank cut its target to $16 from $17, and Rosenblatt lowered its target to $18 from $19; both maintained cautious ratings. Analyst commentary on Lyft

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.