Lyft (NASDAQ:LYFT) Price Target Raised to $13.00 at Morgan Stanley

Lyft (NASDAQ:LYFT) had its price objective hoisted by Morgan Stanley from $12.00 to $13.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the ride-sharing company’s stock.

A number of other equities research analysts have also recently issued reports on LYFT. The Goldman Sachs Group cut Lyft from a buy rating to a neutral rating and boosted their price objective for the company from $12.00 to $15.00 in a research note on Thursday, January 11th. Truist Financial raised their price objective on shares of Lyft from $13.00 to $15.00 and gave the stock a hold rating in a report on Wednesday, February 14th. BMO Capital Markets assumed coverage on shares of Lyft in a report on Tuesday, January 9th. They set a market perform rating and a $15.00 target price on the stock. Wedbush reaffirmed a neutral rating and issued a $15.00 price target (up from $14.00) on shares of Lyft in a report on Wednesday, February 14th. Finally, Piper Sandler lifted their price target on Lyft from $17.00 to $22.00 and gave the company an overweight rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $15.16.

Lyft Price Performance

Lyft stock opened at $17.52 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day moving average price of $17.75 and a 200-day moving average price of $14.54. Lyft has a twelve month low of $7.85 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. On average, sell-side analysts predict that Lyft will post -0.35 EPS for the current year.

Insider Transactions at Lyft

In related news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.51, for a total transaction of $61,285.00. Following the completion of the transaction, the president now owns 96,978 shares in the company, valued at $1,698,084.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director John Patrick Zimmer sold 193,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now owns 932,544 shares in the company, valued at approximately $18,688,181.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Kristin Sverchek sold 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.51, for a total value of $61,285.00. Following the completion of the transaction, the president now owns 96,978 shares of the company’s stock, valued at approximately $1,698,084.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 280,526 shares of company stock worth $5,358,031. 3.16% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Hedge funds have recently modified their holdings of the business. FinTrust Capital Advisors LLC lifted its position 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 position in shares of Lyft by 685.2% in the 4th quarter. Allworth Financial LP now owns 1,916 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 1,672 shares in the last quarter. a16z Perennial Management L.P. purchased a new stake in shares of Lyft in the 4th quarter worth approximately $34,000. Kapitalo Investimentos Ltda bought a new position in Lyft during the 4th quarter valued at approximately $34,000. Finally, BluePath Capital Management LLC purchased a new position in Lyft during the third quarter valued at $35,000. Institutional investors own 83.07% of the company’s stock.

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.