Morgan Stanley Raises Lyft (NASDAQ:LYFT) Price Target to $13.00

Lyft (NASDAQ:LYFT) had its price target boosted by analysts at Morgan Stanley from $12.00 to $13.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the ride-sharing company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 25.03% from the stock’s current price.

Several other equities research analysts have also commented on the company. Moffett Nathanson upgraded Lyft from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 14th. Piper Sandler boosted their target price on shares of Lyft from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. BMO Capital Markets initiated coverage on shares of Lyft in a research note on Tuesday, January 9th. They set a “market perform” rating and a $15.00 target price on the stock. UBS Group lifted their price target on shares of Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.16.

Lyft Price Performance

Shares of Lyft stock traded up $0.14 during midday trading on Monday, hitting $17.34. 9,628,666 shares of the company traded hands, compared to its average volume of 16,179,428. The firm’s fifty day moving average price is $17.72 and its 200-day moving average price is $14.48. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -19.61 and a beta of 2.05. Lyft has a 12 month low of $7.85 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. As a group, sell-side analysts forecast that Lyft will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Lyft

In related news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the sale, the director now owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lyft news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the transaction, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the sale, the president now owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The disclosure for this sale can be found here. Insiders sold 280,526 shares of company stock valued at $5,358,031 in the last quarter. 3.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lyft

Several hedge funds have recently added to or reduced their stakes in LYFT. GAMMA Investing LLC raised its holdings in shares of Lyft by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after buying an additional 664 shares in the last quarter. Commerce Bank grew its position in Lyft by 2.9% during the fourth quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after acquiring an additional 782 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in Lyft by 21.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock valued at $68,000 after acquiring an additional 814 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 1,000 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Lyft by 15.4% in the 4th quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

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.