Lyft (NASDAQ:LYFT) Stock Rating Upgraded by Benchmark

Benchmark upgraded shares of Lyft (NASDAQ:LYFT - Free Report) from a hold rating to a buy rating in a report published on Monday morning, Marketbeat.com reports. The brokerage currently has $20.00 target price on the ride-sharing company's stock.

A number of other equities analysts have also recently commented on LYFT. Cantor Fitzgerald raised their target price on Lyft from $13.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Morgan Stanley increased their target price on Lyft from $16.50 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Barclays boosted their price target on Lyft from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. TD Cowen lifted their price objective on shares of Lyft from $16.00 to $18.00 and gave the company a "hold" rating in a research report on Thursday, November 7th. Finally, Truist Financial upped their target price on shares of Lyft from $13.00 to $20.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Twenty-seven 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.78.

Lyft Stock Performance

Shares of LYFT traded up $0.12 during trading hours on Monday, hitting $14.39. The stock had a trading volume of 12,581,200 shares, compared to its average volume of 18,330,898. The firm has a market capitalization of $5.97 billion, a PE ratio of -89.94, a PEG ratio of 4.10 and a beta of 2.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The stock has a fifty day moving average price of $15.42 and a 200 day moving average price of $13.42.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business's revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS. Analysts anticipate that Lyft will post 0.08 EPS for the current year.

Insider Activity at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now directly owns 332,243 shares of the company's stock, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the transaction, the insider now owns 755,847 shares in the company, valued at approximately $13,423,842.72. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,242 shares of company stock worth $427,330 in the last ninety days. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LYFT. Sanctuary Advisors LLC grew its stake in shares of Lyft by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock worth $363,000 after purchasing an additional 969 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Lyft by 2.5% in the third quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock worth $538,000 after buying an additional 1,043 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Lyft by 9.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company's stock valued at $196,000 after acquiring an additional 1,160 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Lyft by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company's stock valued at $1,054,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Lyft by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company's stock worth $2,612,000 after purchasing an additional 1,477 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

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.