Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Lyft (NASDAQ:LYFT) had its price objective upped by investment analysts at BMO Capital Markets from $20.00 to $23.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the ride-sharing company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 4.36% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Lyft in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price target on Lyft from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. TD Cowen raised their price objective on Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Roth Capital set a $25.00 price objective on shares of Lyft and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, UBS Group increased their target price on shares of Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.55.

Lyft Trading Up 3.7%

Shares of LYFT opened at $22.04 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $20.29 and a 200 day moving average price of $16.82. Lyft has a 12-month low of $9.66 and a 12-month high of $23.50. The firm has a market capitalization of $8.96 billion, a P/E ratio of 58.00, a P/E/G ratio of 3.72 and a beta of 2.36.

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

Insiders Place Their Bets

In related news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer directly owned 540,759 shares of the company’s stock, valued at $8,241,167.16. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John David Risher purchased 5,926 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were bought at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the acquisition, the chief executive officer owned 11,797,266 shares in the company, valued at $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 74,427 shares of company stock worth $1,252,686 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its stake in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 1,203 shares during the period. Atwood & Palmer Inc. acquired a new position in Lyft during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC increased its position in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after purchasing an additional 1,237 shares during the last quarter. Bogart Wealth LLC increased its position in shares of Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Lyft in the 3rd quarter valued at $34,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.