Lyft, Inc. (NASDAQ:LYFT – Get Rating) gapped down prior to trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $12.00 to $11.00. The stock had previously closed at $10.69, but opened at $9.07. Lyft shares last traded at $8.60, with a volume of 15,286,188 shares.
LYFT has been the subject of a number of other reports. Wells Fargo & Company lowered shares of Lyft from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $21.25 to $13.00 in a report on Friday, February 10th. Susquehanna dropped their target price on shares of Lyft from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, February 13th. Wedbush downgraded shares of Lyft from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $13.00 in a research note on Friday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $11.00 price target on shares of Lyft in a research note on Tuesday, March 28th. Finally, Canaccord Genuity Group decreased their price target on shares of Lyft from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, twenty-eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Lyft presently has a consensus rating of “Hold” and an average target price of $16.40.
Institutional Trading of Lyft
A number of large investors have recently made changes to their positions in LYFT. Wipfli Financial Advisors LLC purchased a new stake in Lyft in the third quarter worth approximately $26,000. Kistler Tiffany Companies LLC purchased a new position in shares of Lyft in the 1st quarter worth $28,000. Ellevest Inc. boosted its stake in shares of Lyft by 32.1% in the 4th quarter. Ellevest Inc. now owns 2,616 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 636 shares during the last quarter. EMC Capital Management bought a new stake in shares of Lyft in the third quarter worth $32,000. Finally, Signaturefd LLC grew its holdings in shares of Lyft by 87.1% in the first quarter. Signaturefd LLC now owns 3,801 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 1,769 shares during the period. 79.44% of the stock is currently owned by institutional investors.
Lyft Stock Down 21.0 %
The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.07. The company has a market cap of $3.19 billion, a P/E ratio of -1.91 and a beta of 1.74. The company has a fifty day moving average of $9.81 and a 200 day moving average of $11.68.
Lyft (NASDAQ:LYFT – Get Rating) last issued its quarterly earnings data on Thursday, February 9th. The ride-sharing company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.83). Lyft had a negative return on equity of 112.05% and a negative net margin of 38.69%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, research analysts anticipate that Lyft, Inc. will post -1.61 earnings per share for the current fiscal year.
Lyft Company Profile
Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.