Lyft (NASDAQ:LYFT) Given Outperform Rating at Royal Bank of Canada

Lyft (NASDAQ:LYFT - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They presently have a $21.00 target price on the ride-sharing company's stock. Royal Bank of Canada's price objective would suggest a potential upside of 75.29% from the company's previous close.

A number of other equities research analysts have also weighed in on LYFT. Tigress Financial boosted their price target on Lyft from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Truist Financial dropped their target price on shares of Lyft from $20.00 to $17.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. UBS Group decreased their price target on shares of Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Cantor Fitzgerald lowered their price objective on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. Finally, Piper Sandler reissued an "overweight" rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Twenty-six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $17.03.

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Lyft Stock Up 2.0 %

NASDAQ:LYFT traded up $0.23 during midday trading on Monday, reaching $11.98. 38,642,519 shares of the stock traded hands, compared to its average volume of 15,079,275. The stock has a market capitalization of $5.01 billion, a PE ratio of 199.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. 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 business has a 50-day moving average of $13.07 and a two-hundred day moving average of $13.77.

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

Lyft declared that its board has authorized a stock repurchase program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company's stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Logan Green sold 11,411 shares of the company's stock in a transaction on 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 of the company's stock, valued at $3,970,517.60. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock worth $203,778 in the last 90 days. Insiders own 3.07% of the company's stock.

Institutional Trading of Lyft

Several large investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its stake in Lyft by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 355,864 shares of the ride-sharing company's stock worth $4,591,000 after purchasing an additional 1,783 shares in the last quarter. 111 Capital acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $268,000. Wealth Enhancement Advisory Services LLC boosted its stake in Lyft by 157.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 85,600 shares of the ride-sharing company's stock worth $1,104,000 after buying an additional 52,333 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new position in Lyft during the fourth quarter worth $213,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Lyft in the 4th quarter valued at $950,000. Hedge funds and other 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.