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

Lyft (NASDAQ:LYFT) had its target price decreased by stock analysts at Mizuho from $16.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the ride-sharing company’s stock. Mizuho’s price target would suggest a potential upside of 9.25% from the stock’s previous close.

Several other research firms have also recently commented on LYFT. Wells Fargo & Company dropped their target price on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Canaccord Genuity Group decreased their price target on shares of Lyft from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, February 11th. Jefferies Financial Group lowered their price objective on shares of Lyft from $20.00 to $15.50 and set a “hold” rating for the company in a report on Wednesday, February 11th. Cantor Fitzgerald cut their price objective on Lyft from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada decreased their target price on Lyft from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Lyft presently has an average rating of “Hold” and an average target price of $19.63.

Lyft Stock Performance

Shares of LYFT stock opened at $13.73 on Tuesday. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 2.01, a PEG ratio of 0.83 and a beta of 1.92. The stock has a fifty day moving average of $17.05 and a 200 day moving average of $19.04. Lyft has a 52 week low of $9.66 and a 52 week high of $25.54. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.31.

Lyft declared that its board has initiated a stock buyback plan on Tuesday, February 10th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the ride-sharing company to purchase up to 15.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Lyft

In related news, CEO John David Risher purchased 5,030 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average price of $19.80 per share, for a total transaction of $99,594.00. Following the purchase, the chief executive officer directly owned 11,802,296 shares of the company’s stock, valued at approximately $233,685,460.80. This represents a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Prashant Aggarwal sold 96,900 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total value of $2,160,870.00. Following the transaction, the director directly owned 874,369 shares of the company’s stock, valued at approximately $19,498,428.70. This trade represents a 9.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 209,638 shares of company stock worth $4,463,623. Company insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several large investors have recently modified their holdings of LYFT. Amalgamated Bank grew its position in Lyft by 2.5% during the 3rd quarter. Amalgamated Bank now owns 21,652 shares of the ride-sharing company’s stock valued at $477,000 after purchasing an additional 534 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in Lyft by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after buying an additional 639 shares during the last quarter. CI Investments Inc. lifted its stake in shares of Lyft by 39.1% in the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock worth $51,000 after buying an additional 653 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Lyft by 5.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock worth $248,000 after buying an additional 681 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC grew its holdings in shares of Lyft by 4.3% during the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock valued at $352,000 after buying an additional 756 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.