Lyft (NASDAQ:LYFT) PT Raised to $24.00 at Tigress Financial

Lyft (NASDAQ:LYFT) had its price target boosted by investment analysts at Tigress Financial from $22.00 to $24.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the ride-sharing company’s stock. Tigress Financial’s target price suggests a potential upside of 48.61% from the stock’s current price.

A number of other equities analysts also recently weighed in on LYFT. UBS Group boosted their target price on shares of Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Nomura downgraded shares of Lyft from a “neutral” rating to a “reduce” rating and boosted their target price for the stock from $11.70 to $13.00 in a research note on Friday, December 29th. Citigroup boosted their target price on shares of Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Truist Financial boosted their price target on shares of Lyft from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada raised shares of Lyft from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $17.00 to $23.00 in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Lyft presently has an average rating of “Hold” and a consensus price target of $14.60.

Lyft Stock Down 3.4 %

Shares of LYFT stock opened at $16.15 on Thursday. Lyft has a 12-month low of $7.85 and a 12-month high of $20.82. The firm has a 50-day moving average price of $17.65 and a 200 day moving average price of $14.03. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, research analysts predict that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $16.06, for a total value of $290,123.90. Following the completion of the transaction, the chief accounting officer now owns 255,817 shares in the company, valued at $4,108,421.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Lisa Blackwood-Kapral sold 18,065 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $16.06, for a total value of $290,123.90. Following the completion of the transaction, the chief accounting officer now owns 255,817 shares in the company, valued at $4,108,421.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,526 shares of company stock worth $5,195,771. 3.16% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Lyft by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 32,116,655 shares of the ride-sharing company’s stock worth $481,429,000 after purchasing an additional 659,133 shares in the last quarter. Norges Bank bought a new stake in shares of Lyft in the fourth quarter worth $73,660,000. Clearbridge Investments LLC lifted its position in shares of Lyft by 46.4% in the first quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock worth $248,485,000 after purchasing an additional 2,050,430 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Lyft by 5.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after purchasing an additional 300,982 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Lyft by 29.1% in the third quarter. Morgan Stanley now owns 5,616,086 shares of the ride-sharing company’s stock worth $59,194,000 after purchasing an additional 1,267,124 shares in the last quarter. 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.