Susquehanna Lowers Lyft (NASDAQ:LYFT) Price Target to $15.00

Lyft (NASDAQ:LYFT - Free Report) had its price objective lowered by Susquehanna from $18.00 to $15.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the ride-sharing company's stock.

Several other research firms have also recently commented on LYFT. Barclays decreased their price target on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Wedbush lowered 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. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Wednesday, February 12th. Jefferies Financial Group raised their price target on Lyft from $10.50 to $13.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Finally, DA Davidson lowered their price objective on Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.22.

Lyft Price Performance

Lyft stock traded down $0.04 on Thursday, reaching $13.43. The company's stock had a trading volume of 22,272,233 shares, compared to its average volume of 13,646,594. The business's fifty day moving average price is $13.83 and its 200 day moving average price is $13.55. 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 cap of $5.57 billion, a price-to-earnings ratio of -83.94, a PEG ratio of 1.94 and a beta of 2.16. Lyft has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (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%. Equities analysts expect that Lyft will post 0.06 earnings per share for the current fiscal year.

Lyft declared that its board has authorized a stock repurchase program on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Logan Green sold 10,919 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the sale, the director now owns 314,492 shares of the company's stock, valued at $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYFT. Sanctuary Advisors LLC bought a new stake in Lyft during the second quarter worth about $388,000. CWM LLC raised its stake in shares of Lyft by 512.2% during the 3rd quarter. CWM LLC now owns 42,656 shares of the ride-sharing company's stock worth $544,000 after purchasing an additional 35,688 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Lyft in the 3rd quarter valued at approximately $284,000. Vontobel Holding Ltd. grew its stake in shares of Lyft by 21.7% in the third quarter. Vontobel Holding Ltd. now owns 47,181 shares of the ride-sharing company's stock valued at $602,000 after buying an additional 8,408 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Lyft by 2,103.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company's stock valued at $252,000 after buying an additional 18,868 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

About Lyft

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.