Northcoast Research upgraded shares of LYFT (NASDAQ:LYFT) from a neutral rating to a buy rating in a research note released on Monday, BenzingaRatingsTable reports. Northcoast Research currently has $60.00 price objective on the ride-sharing company’s stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley assumed coverage on shares of LYFT in a research note on Thursday, October 24th. They issued an equal weight rating and a $50.00 price objective for the company. Benchmark assumed coverage on shares of LYFT in a research note on Thursday, January 9th. They issued a sell rating and a $35.00 price objective for the company. Credit Suisse Group reissued a buy rating and issued a $96.00 price objective on shares of LYFT in a research note on Wednesday, November 13th. Loop Capital raised shares of LYFT from a hold rating to a buy rating and set a $62.00 price objective for the company in a research note on Monday, November 25th. Finally, Sanford C. Bernstein assumed coverage on shares of LYFT in a research note on Thursday, January 9th. They issued a market perform rating and a $48.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-one have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $65.55.

Shares of NASDAQ LYFT traded down $2.12 during trading hours on Monday, hitting $44.91. 17,791,506 shares of the stock were exchanged, compared to its average volume of 7,249,417. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.49 and a current ratio of 1.49. The company’s fifty day simple moving average is $46.89 and its two-hundred day simple moving average is $47.00. LYFT has a 1-year low of $37.07 and a 1-year high of $88.60.

LYFT (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported ($1.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.22) by $0.03. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $984.49 million. As a group, research analysts expect that LYFT will post -10.41 earnings per share for the current fiscal year.

In related news, CFO Brian Keith Roberts sold 17,589 shares of LYFT stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $43.80, for a total transaction of $770,398.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Agnes Wilderotter sold 1,663 shares of LYFT stock in a transaction on Monday, February 10th. The stock was sold at an average price of $52.49, for a total transaction of $87,290.87. The disclosure for this sale can be found here. Insiders have sold 178,072 shares of company stock valued at $7,950,163 in the last ninety days.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in LYFT by 36.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 838 shares of the ride-sharing company’s stock worth $36,000 after buying an additional 222 shares during the last quarter. Advisory Services Network LLC grew its holdings in LYFT by 41.4% in the fourth quarter. Advisory Services Network LLC now owns 976 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 286 shares during the period. Valeo Financial Advisors LLC grew its holdings in LYFT by 37.6% in the third quarter. Valeo Financial Advisors LLC now owns 1,097 shares of the ride-sharing company’s stock worth $45,000 after purchasing an additional 300 shares during the period. Rhumbline Advisers grew its holdings in LYFT by 1.3% in the third quarter. Rhumbline Advisers now owns 27,750 shares of the ride-sharing company’s stock worth $1,133,000 after purchasing an additional 345 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in LYFT by 22.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,175 shares of the ride-sharing company’s stock worth $94,000 after purchasing an additional 400 shares during the period. 44.44% 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 provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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Analyst Recommendations for LYFT (NASDAQ:LYFT)

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