Cantor Fitzgerald Has Lowered Expectations for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its target price reduced by research analysts at Cantor Fitzgerald from $17.00 to $15.00 in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 13.04% from the stock’s current price.

A number of other research analysts have also recently issued reports on LYFT. BTIG Research reissued a “neutral” rating on shares of Lyft in a research report on Friday, September 18th. JPMorgan Chase & Co. upped their price objective on shares of Lyft from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Roth Capital restated a “buy” rating and issued a $25.00 price objective (up from $23.00) on shares of Lyft in a report on Monday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Lyft in a research note on Tuesday, August 18th. Finally, Guggenheim downgraded shares of Lyft from a “buy” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $16.00 in a research note on Thursday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Lyft has an average rating of “Hold” and an average price target of $18.97.

Lyft Stock Performance

Shares of Lyft stock opened at $17.25 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day simple moving average of $16.27 and a two-hundred day simple moving average of $15.15. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, research analysts expect that Lyft will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Lawee sold 4,613 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.33, for a total transaction of $79,943.29. Following the completion of the transaction, the director directly owned 119,124 shares in the company, valued at $2,064,418.92. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Llewellyn sold 13,204 shares of Lyft stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $16.64, for a total value of $219,714.56. Following the completion of the transaction, the insider directly owned 781,152 shares of the company’s stock, valued at approximately $12,998,369.28. This represents a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 112,020 shares of company stock valued at $1,850,559. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Lyft

Several institutional investors have recently bought and sold shares of LYFT. Dimensional Fund Advisors LP lifted its stake in Lyft by 58.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock valued at $89,360,000 after acquiring an additional 2,467,010 shares during the period. Bank of New York Mellon Corp lifted its position in Lyft by 36.6% during the first quarter. Bank of New York Mellon Corp now owns 2,289,671 shares of the ride-sharing company’s stock valued at $30,453,000 after purchasing an additional 613,494 shares during the period. West Tower Group LLC boosted its holdings in Lyft by 207.6% in the first quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock worth $1,841,000 after purchasing an additional 93,432 shares during the last quarter. OP Asset Management Ltd purchased a new stake in Lyft in the first quarter worth approximately $992,000. Finally, Engineers Gate Manager LP boosted its holdings in Lyft by 270.3% in the second quarter. Engineers Gate Manager LP now owns 457,534 shares of the ride-sharing company’s stock worth $6,685,000 after purchasing an additional 333,977 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Company Profile

Lyft, Inc is a technology company that operates a transportation network platform in the United States and Canada. Its platform connects passengers with drivers through a mobile application and website, primarily offering on-demand rides in private vehicles, taxis and other transportation options.

The company also provides access to bicycles and scooters in select markets, as well as vehicle rentals and transportation solutions for businesses, healthcare organizations and other institutions.