Lyft, Inc. (NASDAQ:LYFT)’s share price dropped 4.3% during mid-day trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $70.00 to $65.00. Royal Bank of Canada currently has an outperform rating on the stock. Lyft traded as low as $50.80 and last traded at $50.96. Approximately 219,220 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 3,983,752 shares. The stock had previously closed at $53.24.
Several other brokerages have also recently issued reports on LYFT. Morgan Stanley upped their target price on shares of Lyft from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday, August 4th. Credit Suisse Group increased their price target on shares of Lyft from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, August 2nd. Wedbush reiterated a “buy” rating and set a $85.00 price target on shares of Lyft in a research note on Wednesday, August 4th. BTIG Research decreased their price target on shares of Lyft from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Finally, Citigroup increased their price target on shares of Lyft from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Seven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $70.49.
In related news, General Counsel Kristin Sverchek sold 15,977 shares of the stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $48.71, for a total value of $778,239.67. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Logan Green sold 36,000 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $48.70, for a total transaction of $1,753,200.00. The disclosure for this sale can be found here. Insiders sold a total of 57,977 shares of company stock valued at $2,838,880 in the last quarter. Insiders own 5.77% of the company’s stock.
The company has a market capitalization of $17.10 billion, a price-to-earnings ratio of -10.73 and a beta of 2.06. The company’s 50 day simple moving average is $51.53 and its 200-day simple moving average is $55.41. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.48.
Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, August 3rd. The ride-sharing company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.02. Lyft had a negative net margin of 65.35% and a negative return on equity of 79.27%. The company had revenue of $765.03 million for the quarter, compared to analysts’ expectations of $701.24 million. Sell-side analysts anticipate that Lyft, Inc. will post -2.53 EPS for the current year.
Lyft Company Profile (NASDAQ:LYFT)
Lyft, Inc engages in the provision and management of online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.
Further Reading: Penny Stocks, What You Need To Know
Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.