Lyft (NASDAQ:LYFT) Stock Rating Lowered by Cowen

Cowen lowered shares of Lyft (NASDAQ:LYFTGet Rating) from an outperform rating to a market perform rating in a research report report published on Monday morning, The Fly reports.

Other equities research analysts have also issued reports about the company. Evercore ISI lowered Lyft from an outperform rating to an in-line rating and reduced their target price for the stock from $41.00 to $18.00 in a report on Tuesday, November 8th. Northcoast Research lowered Lyft from a buy rating to a neutral rating in a report on Wednesday, November 9th. Susquehanna cut their price target on Lyft from $23.00 to $13.00 and set a neutral rating for the company in a report on Tuesday, November 8th. MKM Partners cut their price target on Lyft from $32.00 to $17.00 in a report on Wednesday, July 27th. Finally, Barclays cut their price target on Lyft from $20.00 to $18.00 and set an equal weight rating for the company in a report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Lyft currently has a consensus rating of Hold and a consensus price target of $27.59.

Lyft Stock Up 2.4 %

LYFT opened at $11.31 on Monday. The business has a 50 day moving average price of $13.39 and a 200 day moving average price of $15.11. Lyft has a twelve month low of $10.43 and a twelve month high of $46.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $4.08 billion, a P/E ratio of -3.16 and a beta of 1.68.

Institutional Trading of Lyft

A number of large investors have recently bought and sold shares of LYFT. Fisher Asset Management LLC grew its position in Lyft by 6,332.9% in the third quarter. Fisher Asset Management LLC now owns 11,725,173 shares of the ride-sharing company’s stock valued at $154,421,000 after acquiring an additional 11,542,904 shares during the period. Alphabet Inc. bought a new stake in shares of Lyft during the third quarter worth $80,839,000. Frontier Capital Management Co. LLC bought a new stake in shares of Lyft during the second quarter worth $34,868,000. Clearbridge Investments LLC grew its holdings in shares of Lyft by 46.4% during the first quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock worth $248,485,000 after purchasing an additional 2,050,430 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Lyft by 54.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,011,998 shares of the ride-sharing company’s stock worth $52,838,000 after purchasing an additional 1,422,408 shares during the last quarter. 76.49% of the stock is currently owned by institutional investors.

Lyft Company Profile

(Get Rating)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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Analyst Recommendations for Lyft (NASDAQ:LYFT)

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