Lyft (NASDAQ:LYFT) Receives “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Lyft (NASDAQ:LYFT) in a research note published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $13.00 price target on the ride-sharing company’s stock.

LYFT has been the topic of a number of other research reports. TD Cowen reduced their price objective on Lyft from $18.00 to $15.00 and set a hold rating on the stock in a research note on Thursday, August 8th. Fox Advisors raised shares of Lyft from an equal weight rating to an overweight rating and set a $20.00 price objective on the stock in a report on Friday, June 7th. The Goldman Sachs Group boosted their target price on shares of Lyft from $19.00 to $21.00 and gave the stock a neutral rating in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lyft from $15.00 to $11.00 and set a hold rating on the stock in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group dropped their price objective on shares of Lyft from $23.00 to $18.00 and set a buy rating for the company in a research report on Thursday, August 8th. Twenty-six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $15.65.

Lyft Trading Down 0.5 %

Shares of Lyft stock opened at $13.28 on Monday. Lyft has a 12-month low of $8.85 and a 12-month high of $20.82. The stock has a market capitalization of $5.45 billion, a P/E ratio of -28.25 and a beta of 2.04. The company has a 50-day simple moving average of $11.55 and a 200 day simple moving average of $14.58. 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 (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The company’s revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. Research analysts expect that Lyft will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, President Kristin Sverchek sold 3,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.81, for a total transaction of $41,430.00. Following the completion of the sale, the president now owns 47,778 shares of the company’s stock, valued at $659,814.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total value of $99,795.36. Following the sale, the insider now owns 764,332 shares in the company, valued at approximately $8,988,544.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Kristin Sverchek sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.81, for a total transaction of $41,430.00. Following the transaction, the president now directly owns 47,778 shares of the company’s stock, valued at $659,814.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,664 shares of company stock valued at $421,478. 3.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LYFT. FinTrust Capital Advisors LLC increased its stake in Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Lyft in the 4th quarter valued at about $34,000. International Assets Investment Management LLC acquired a new stake in shares of Lyft in the second quarter valued at about $35,000. Brown Brothers Harriman & Co. bought a new stake in Lyft during the second quarter worth about $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Lyft during the fourth quarter valued at approximately $40,000. 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.