Lyft (NASDAQ:LYFT) Stock Rating Reaffirmed by Cantor Fitzgerald

Lyft (NASDAQ:LYFT)‘s stock had its “neutral” rating restated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $13.00 target price on the ride-sharing company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 4.08% from the stock’s current price.

Several other analysts have also recently commented on LYFT. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. UBS Group decreased their target price on shares of Lyft from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group increased their price target on shares of Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Nomura raised shares of Lyft from a “reduce” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $13.00 in a report on Friday, August 23rd. Finally, TD Cowen lowered their target price on shares of Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twenty-six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.65.

Lyft Stock Performance

Shares of LYFT opened at $12.49 on Monday. The company’s 50 day simple moving average is $11.58 and its 200-day simple moving average is $14.42. Lyft has a 12-month low of $8.85 and a 12-month high of $20.82. The firm has a market cap of $5.04 billion, a PE ratio of -26.57 and a beta of 2.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. As a group, equities analysts predict that Lyft will post -0.16 EPS for the current year.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares in the company, valued at $10,523,502.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now owns 929,638 shares in the company, valued at approximately $10,523,502.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,664 shares of company stock worth $380,048. 3.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LYFT. Vanguard Group Inc. raised its holdings in shares of Lyft by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after buying an additional 782,736 shares during the last quarter. Primecap Management Co. CA raised its holdings in Lyft by 1.5% during the second quarter. Primecap Management Co. CA now owns 6,256,080 shares of the ride-sharing company’s stock worth $88,211,000 after purchasing an additional 94,710 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Lyft by 1.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock worth $113,126,000 after purchasing an additional 63,461 shares during the period. Bank of New York Mellon Corp boosted its stake in Lyft by 39.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock valued at $40,475,000 after purchasing an additional 812,926 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Lyft by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,601,400 shares of the ride-sharing company’s stock valued at $22,580,000 after purchasing an additional 167,400 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Company Profile

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.