JPMorgan Chase & Co. Issues Pessimistic Forecast for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT - Free Report) had its target price reduced by JPMorgan Chase & Co. from $19.00 to $16.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the ride-sharing company's stock.

A number of other analysts also recently commented on the stock. Wedbush dropped their target price on shares of Lyft from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Roth Mkm raised their price objective on Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a report on Wednesday. Wells Fargo & Company decreased their price target on Lyft from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. Finally, Benchmark upgraded shares of Lyft from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research report on Monday, January 6th. Twenty-six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lyft presently has a consensus rating of "Hold" and an average price target of $17.22.

Lyft Stock Down 0.3 %

Shares of NASDAQ:LYFT traded down $0.04 during trading on Wednesday, hitting $13.43. The company's stock had a trading volume of 22,272,233 shares, compared to its average volume of 13,646,594. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $5.57 billion, a PE ratio of -83.94, a PEG ratio of 1.94 and a beta of 2.16. The stock's 50-day moving average price is $13.83 and its two-hundred day moving average price is $13.54.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. As a group, sell-side analysts expect that Lyft will post 0.06 EPS for the current year.

Lyft announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In other Lyft news, Director Logan Green sold 10,919 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new stake in shares of Lyft during the 3rd quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lyft in the fourth quarter valued at $29,000. ORG Wealth Partners LLC bought a new position in Lyft during the 4th quarter valued at $31,000. Plato Investment Management Ltd bought a new stake in Lyft during the fourth quarter worth $35,000. Finally, Byrne Asset Management LLC bought a new stake in shares of Lyft in the 4th quarter worth approximately $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.