BMO Capital Markets Cuts Lyft (NASDAQ:LYFT) Price Target to $15.00

Lyft (NASDAQ:LYFT - Get Free Report) had its price target decreased by research analysts at BMO Capital Markets from $18.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the ride-sharing company's stock. BMO Capital Markets' price target indicates a potential upside of 11.69% from the company's current price.

Several other equities research analysts have also issued reports on LYFT. Wedbush dropped their price objective on shares of Lyft from $20.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Susquehanna raised their price target on shares of Lyft from $10.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Benchmark raised shares of Lyft from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Lyft from $17.00 to $14.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Finally, Roth Mkm raised their price target on shares of Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Twenty-six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $17.22.

Lyft Trading Down 0.3 %

LYFT stock traded down $0.04 on Wednesday, hitting $13.43. 22,272,233 shares of the company were exchanged, compared to its average volume of 13,646,594. Lyft has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The business's fifty day moving average is $13.83 and its two-hundred day moving average is $13.54. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of -83.94, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. As a group, research analysts forecast that Lyft will post 0.06 earnings per share for the current year.

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

Insider Buying and Selling at Lyft

In other Lyft news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction that occurred 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 completion of the sale, the director now directly owns 314,492 shares in the company, valued at $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.07% of the company's stock.

Hedge Funds Weigh In On Lyft

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Lyft by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company's stock valued at $464,434,000 after purchasing an additional 984,907 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Lyft by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company's stock valued at $230,174,000 after purchasing an additional 80,675 shares during the period. Pacer Advisors Inc. raised its position in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after purchasing an additional 2,302,248 shares during the period. Renaissance Technologies LLC raised its position in shares of Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock valued at $111,240,000 after purchasing an additional 6,365,727 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Lyft by 27.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock valued at $103,456,000 after purchasing an additional 1,735,208 shares during the period. Institutional investors own 83.07% of the company's stock.

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.