Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, Susquehanna Analyst Says

Lyft (NASDAQ:LYFT) had its price objective increased by analysts at Susquehanna from $14.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the ride-sharing company’s stock. Susquehanna’s price target would indicate a potential upside of 16.14% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Roth Capital set a $25.00 price objective on Lyft and gave the company a “buy” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lyft from $16.00 to $21.00 and gave the company a “hold” rating in a report on Thursday, September 18th. Jefferies Financial Group lifted their price objective on shares of Lyft from $15.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, September 18th. Benchmark restated a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. Finally, Mizuho assumed coverage on Lyft in a research note on Tuesday, September 30th. They set a “neutral” rating and a $24.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.02.

Lyft Stock Performance

LYFT stock traded down $0.59 during midday trading on Friday, reaching $20.67. 4,188,088 shares of the company’s stock traded hands, compared to its average volume of 18,655,719. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.72. Lyft has a 52-week low of $9.66 and a 52-week high of $23.50. The stock has a market cap of $8.40 billion, a P/E ratio of 54.32, a PEG ratio of 3.51 and a beta of 2.36. The stock’s 50-day moving average is $20.17 and its 200 day moving average is $16.74.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 17.08%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. As a group, analysts anticipate that Lyft will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John David Risher acquired 5,926 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average cost of $16.88 per share, with a total value of $100,030.88. Following the completion of the acquisition, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the transaction, the insider directly owned 835,782 shares of the company’s stock, valued at $16,715,640. This represents a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lyft

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in Lyft during the third quarter valued at $34,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lyft in the second quarter worth about $32,000. Bogart Wealth LLC boosted its holdings in shares of Lyft by 1,242.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Lyft during the 3rd quarter valued at about $50,000. Institutional investors and hedge funds 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.