Lyft's (LYFT) "Neutral" Rating Reiterated at DA Davidson

Lyft (NASDAQ:LYFT - Get Free Report)'s stock had its "neutral" rating restated by DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 target price on the ride-sharing company's stock. DA Davidson's price target points to a potential upside of 37.11% from the stock's current price.

LYFT has been the subject of a number of other reports. Wedbush cut their target price on Lyft from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Piper Sandler reiterated an "overweight" rating and issued a $18.00 target price (down previously from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $21.00 price target on shares of Lyft in a research report on Monday, March 17th. Benchmark raised shares of Lyft from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research note on Monday, January 6th. Finally, Evercore ISI decreased their price objective on Lyft from $19.00 to $15.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-seven have assigned 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, the stock presently has an average rating of "Hold" and a consensus price target of $16.45.

Lyft Trading Down 2.0 %

LYFT traded down $0.22 during trading on Wednesday, reaching $10.94. The company had a trading volume of 11,087,232 shares, compared to its average volume of 18,976,947. Lyft has a 12-month low of $8.93 and a 12-month high of $19.07. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 182.33, a PEG ratio of 1.90 and a beta of 2.13. The firm's 50-day simple moving average is $12.02 and its 200 day simple moving average is $13.67.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Equities research analysts anticipate that Lyft will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Logan Green sold 11,411 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,407 shares of company stock worth $203,778. Company insiders own 3.07% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spurstone Advisory Services LLC acquired a new stake in shares of Lyft during the 4th quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft during the 4th quarter worth $29,000. ORG Wealth Partners LLC purchased a new stake in Lyft in the 4th quarter valued at approximately $31,000. GAMMA Investing LLC grew its holdings in Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock worth $33,000 after acquiring an additional 1,237 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in Lyft in the fourth quarter valued at about $35,000. 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.