Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Lyft (NASDAQ:LYFT) had its price objective upped by stock analysts at Wells Fargo & Company from $16.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 9.26% from the company’s current price.

LYFT has been the topic of several other reports. Cantor Fitzgerald raised their target price on shares of Lyft from $19.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer set a $26.00 price target on shares of Lyft and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank Of Canada boosted their price objective on shares of Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday. Wedbush raised their target price on shares of Lyft from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Bank of America boosted their price target on shares of Lyft from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.55.

Lyft Stock Performance

Shares of Lyft stock opened at $22.04 on Thursday. The firm has a fifty day moving average of $20.29 and a two-hundred day moving average of $16.82. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.70 and a current ratio of 0.72. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 58.00, a PEG ratio of 3.72 and a beta of 2.36. Lyft has a 52 week low of $9.66 and a 52 week high of $23.50.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts predict that Lyft will post 0.22 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Lyft

Institutional investors have recently modified their holdings of the business. Quent Capital LLC bought a new stake in shares of Lyft during the 3rd quarter worth $34,000. MassMutual Private Wealth & Trust FSB raised its stake in Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Lyft in the second quarter worth about $32,000. Bogart Wealth LLC boosted its stake in shares of Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Lyft during the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds 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.