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

Lyft (NASDAQ:LYFT) had its price objective lowered by analysts at Cantor Fitzgerald from $15.00 to $14.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. Cantor Fitzgerald’s price objective points to a potential downside of 2.71% from the stock’s previous close.

LYFT has been the subject of several other reports. Bank of America increased their price target on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Mkm lifted their target price on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley increased their price target on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Susquehanna lifted their price objective on Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Wedbush cut their target price on Lyft from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Twenty-seven investment 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. According to data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus price target of $17.63.

Lyft Stock Down 4.8 %

LYFT stock opened at $14.39 on Wednesday. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $5.97 billion, a price-to-earnings ratio of -89.94, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16. The company has a fifty day moving average price of $14.00 and a 200 day moving average price of $13.52.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Sell-side analysts expect that Lyft will post 0.06 earnings per share for the current year.

Lyft declared that its board has authorized a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Lyft

In other news, Director Logan Green sold 10,919 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. QRG Capital Management Inc. grew its position in Lyft by 3.8% in the 4th quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock valued at $316,000 after buying an additional 903 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Lyft by 3.5% during the third quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock worth $363,000 after purchasing an additional 969 shares in the last quarter. XTX Topco Ltd lifted its position in Lyft by 2.5% in the third quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock worth $538,000 after purchasing an additional 1,043 shares during the period. US Bancorp DE boosted its stake in Lyft by 2.6% during the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock valued at $536,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Lyft by 13.8% during the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 1,080 shares during the period. 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.