Susquehanna Issues Positive Forecast for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its target price boosted by Susquehanna from $14.00 to $24.00 in a research report released on Friday morning,Benzinga reports. Susquehanna currently has a neutral rating on the ride-sharing company’s stock.

A number of other research firms also recently issued reports on LYFT. Royal Bank Of Canada boosted their target price on shares of Lyft from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. Guggenheim upgraded shares of Lyft to a “strong-buy” rating in a report on Wednesday, October 15th. Canaccord Genuity Group increased their price objective on shares of Lyft from $11.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lyft in a research report on Wednesday, October 8th. Finally, Bank of America upped their price target on Lyft from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.55.

Lyft Trading Up 3.7%

Shares of Lyft stock traded up $0.79 on Friday, hitting $22.04. 21,590,512 shares of the company’s stock traded hands, compared to its average volume of 15,815,194. The company has a fifty day moving average of $20.29 and a two-hundred day moving average of $16.82. Lyft has a one year low of $9.66 and a one year high of $23.50. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 58.00, a price-to-earnings-growth ratio of 3.72 and a beta of 2.36. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.70.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.17). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. Lyft’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. As a group, sell-side analysts expect that Lyft will post 0.22 earnings per share for the current year.

Insider Activity at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $20.00, for a total value of $292,120.00. Following the completion of the sale, the insider owned 835,782 shares in the company, valued at $16,715,640. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John David Risher purchased 5,926 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at $199,137,850.08. The trade was a 0.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Lyft

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Lyft by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock valued at $451,645,000 after acquiring an additional 2,046,639 shares during the period. Ameriprise Financial Inc. raised its position in shares of Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock valued at $294,978,000 after purchasing an additional 5,178,118 shares during the period. AQR Capital Management LLC lifted its stake in shares of Lyft by 144.9% during the 2nd quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company’s stock valued at $378,396,000 after buying an additional 14,205,143 shares in the last quarter. Rakuten Group Inc. purchased a new stake in shares of Lyft during the 1st quarter valued at approximately $130,434,000. Finally, Geode Capital Management LLC boosted its holdings in Lyft by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after buying an additional 20,354 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.