Susquehanna Boosts Lyft (NASDAQ:LYFT) Price Target to $18.00

Lyft (NASDAQ:LYFT - Get Free Report) had its price objective increased by analysts at Susquehanna from $10.00 to $18.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the ride-sharing company's stock. Susquehanna's target price indicates a potential downside of 3.17% from the company's previous close.

LYFT has been the topic of a number of other research reports. Wolfe Research assumed coverage on Lyft in a research note on Tuesday, July 16th. They set a "peer perform" rating on the stock. Wells Fargo & Company reissued a "market perform" rating on shares of Lyft in a report on Friday, October 18th. Bank of America raised their target price on shares of Lyft from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday. Melius initiated coverage on Lyft in a report on Monday, July 22nd. They set a "hold" rating and a $15.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on Lyft from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday. Twenty-eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $17.48.

Lyft Stock Up 4.6 %

LYFT traded up $0.81 during trading hours on Monday, hitting $18.59. 22,067,089 shares of the company's stock were exchanged, compared to its average volume of 15,153,908. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -116.19 and a beta of 2.04. The stock's 50-day moving average is $12.96 and its two-hundred day moving average is $13.49. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.09. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The company's quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. Sell-side analysts predict that Lyft will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now owns 929,638 shares of the company's stock, valued at $10,523,502.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Logan Green sold 10,323 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now owns 330,790 shares of the company's stock, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock valued at $380,048 over the last three months. 3.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lyft

Several hedge funds and other institutional investors have recently modified their holdings of LYFT. Allspring Global Investments Holdings LLC purchased a new stake in Lyft in the first quarter worth $41,000. Janney Montgomery Scott LLC increased its stake in shares of Lyft by 48.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 78,609 shares of the ride-sharing company's stock worth $1,521,000 after acquiring an additional 25,500 shares in the last quarter. Empowered Funds LLC boosted its stake in Lyft by 24.4% during the first quarter. Empowered Funds LLC now owns 16,557 shares of the ride-sharing company's stock worth $320,000 after acquiring an additional 3,247 shares in the last quarter. SG Americas Securities LLC bought a new stake in Lyft during the first quarter worth about $1,262,000. Finally, Swiss National Bank grew its holdings in Lyft by 2.0% in the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company's stock worth $13,218,000 after purchasing an additional 13,300 shares during the period. Hedge funds and other 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.