Lyft (NASDAQ:LYFT) Price Target Cut to $14.00 by Analysts at Wells Fargo & Company

Lyft (NASDAQ:LYFT) had its price objective reduced by Wells Fargo & Company from $17.00 to $14.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the ride-sharing company’s stock.

Several other analysts have also recently commented on LYFT. TD Cowen raised their target price on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their target price on Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Roth Mkm increased their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wedbush lowered their price objective on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Loop Capital increased their target price on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Twenty-seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus target price of $17.84.

Lyft Trading Down 1.4 %

NASDAQ:LYFT opened at $13.41 on Thursday. The stock has a fifty day simple moving average of $15.21 and a 200 day simple moving average of $13.41. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of -83.81, a price-to-earnings-growth ratio of 1.72 and a beta of 2.14. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. Sell-side analysts forecast that Lyft will post 0.06 earnings per share for the current year.

Insider Transactions at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the transaction, the insider now owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Logan Green sold 10,919 shares of Lyft stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the sale, the director now directly owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,242 shares of company stock worth $427,330 over the last three months. 3.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of Lyft by 59.6% during the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock worth $5,006,000 after acquiring an additional 142,880 shares during the period. Sanctuary Advisors LLC acquired a new stake in Lyft during the second quarter valued at approximately $388,000. New York State Teachers Retirement System acquired a new stake in Lyft during the third quarter valued at approximately $423,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Lyft in the 2nd quarter worth approximately $3,349,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Lyft during the 3rd quarter worth approximately $716,000. 83.07% of the stock is owned by institutional investors.

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.