Lyft (NASDAQ:LYFT) PT Lowered to $17.00 at Evercore ISI

Lyft (NASDAQ:LYFT) had its target price decreased by Evercore ISI from $18.00 to $17.00 in a report published on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the ride-sharing company’s stock.

A number of other equities research analysts have also commented on LYFT. Morgan Stanley upped their target price on Lyft from $17.00 to $18.00 and gave the company an equal weight rating in a research report on Friday, June 7th. Canaccord Genuity Group lowered their price objective on Lyft from $23.00 to $18.00 and set a buy rating on the stock in a research report on Thursday. The Goldman Sachs Group upped their price objective on Lyft from $19.00 to $21.00 and gave the stock a neutral rating in a research report on Friday, June 7th. BMO Capital Markets upped their price objective on Lyft from $18.00 to $19.00 and gave the stock a market perform rating in a research report on Friday, June 7th. Finally, Wells Fargo & Company lowered their price objective on Lyft from $18.00 to $17.00 and set an equal weight rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $15.97.

Lyft Price Performance

Shares of LYFT stock opened at $9.76 on Thursday. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The stock’s 50-day moving average is $13.14 and its 200 day moving average is $15.39. The company has a market cap of $3.94 billion, a P/E ratio of -20.77 and a beta of 2.06. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative return on equity of 23.77% and a negative net margin of 3.94%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. The company’s revenue was up 40.6% on a year-over-year basis. Research analysts predict that Lyft will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 7,923 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $16.54, for a total value of $131,046.42. Following the completion of the sale, the director now directly owns 924,621 shares in the company, valued at approximately $15,293,231.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the completion of the transaction, the chief accounting officer now directly owns 351,853 shares in the company, valued at approximately $5,513,536.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 7,923 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $16.54, for a total value of $131,046.42. Following the transaction, the director now owns 924,621 shares of the company’s stock, valued at $15,293,231.34. The disclosure for this sale can be found here. Insiders sold a total of 33,333 shares of company stock worth $518,714 in the last three months. 3.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lyft

A number of hedge funds have recently modified their holdings of LYFT. FinTrust Capital Advisors LLC boosted its holdings in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares during the period. Allworth Financial LP boosted its holdings in Lyft by 685.2% during the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 1,672 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Lyft in the 1st quarter valued at about $41,000. GAMMA Investing LLC raised its position in Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 664 shares in the last quarter. Finally, a16z Perennial Management L.P. acquired a new stake in Lyft in the 4th quarter valued at about $34,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.