Lyft (NASDAQ:LYFT) Price Target Raised to $25.00

Lyft (NASDAQ:LYFT) had its price target lifted by stock analysts at Deutsche Bank Aktiengesellschaft from $21.00 to $25.00 in a report issued on Friday,MarketScreener reports. The firm currently has a “hold” rating on the ride-sharing company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 13.43% from the stock’s current price.

Several other equities research analysts have also recently weighed in on LYFT. Zephirin Group boosted their target price on Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday. Guggenheim upgraded shares of Lyft to a “strong-buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada boosted their price target on shares of Lyft from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen lifted their target price on Lyft from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, The Goldman Sachs Group boosted their target price on Lyft from $21.00 to $26.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.55.

Lyft Trading Up 3.7%

NASDAQ:LYFT opened at $22.04 on Friday. Lyft has a 12-month low of $9.66 and a 12-month high of $23.50. The firm has a market cap of $8.96 billion, a PE ratio of 58.00, a price-to-earnings-growth ratio of 3.72 and a beta of 2.36. 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 stock has a fifty day moving average price of $20.29 and a 200 day moving average price of $16.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data 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 company 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Sell-side analysts anticipate that Lyft will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John David Risher bought 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the purchase, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the completion of the sale, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. This trade represents a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 74,427 shares of company stock valued at $1,252,686. Company insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Lyft by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 2,871 shares during the period. Maxi Investments CY Ltd increased its holdings in Lyft by 320.4% in the first quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company’s stock valued at $11,228,000 after buying an additional 720,933 shares in the last quarter. Joule Financial LLC acquired a new stake in shares of Lyft during the 2nd quarter valued at approximately $760,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Lyft during the 1st quarter worth approximately $2,191,000. Finally, Kaufman Rossin Wealth LLC boosted its stake in shares of Lyft by 93.1% during the 2nd quarter. Kaufman Rossin Wealth LLC now owns 32,188 shares of the ride-sharing company’s stock worth $507,000 after acquiring an additional 15,518 shares in the last quarter. 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.