Lyft (NASDAQ:LYFT) Price Target Cut to $18.00 by Analysts at Rosenblatt Securities

Lyft (NASDAQ:LYFT) had its target price reduced by Rosenblatt Securities from $19.00 to $18.00 in a report released on Friday morning, MarketBeat.com reports. Rosenblatt Securities currently has a neutral rating on the ride-sharing company’s stock.

LYFT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $17.00 target price on shares of Lyft in a research report on Monday, August 10th. UBS Group boosted their price target on shares of Lyft from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Evercore set a $23.00 price target on shares of Lyft in a research note on Friday. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Susquehanna restated a “neutral” rating and issued a $18.00 price objective on shares of Lyft in a report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.00.

Lyft Trading Down 4.2%

Shares of Lyft stock traded down $0.75 during midday trading on Friday, reaching $17.09. 23,907,601 shares of the company’s stock traded hands, compared to its average volume of 9,795,465. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $6.47 billion, a PE ratio of 2.54, a price-to-earnings-growth ratio of 1.03 and a beta of 2.06. The stock has a 50 day moving average of $16.20 and a 200-day moving average of $15.13. Lyft has a 12 month low of $12.46 and a 12 month high of $25.54.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Thursday, November 5th. The ride-sharing company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.23). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. As a group, equities analysts expect that Lyft will post 0.81 EPS for the current fiscal year.

Insider Transactions at Lyft

In related news, insider Lindsay Llewellyn sold 13,204 shares of Lyft stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $16.64, for a total transaction of $219,714.56. Following the completion of the transaction, the insider directly owned 781,152 shares of the company’s stock, valued at $12,998,369.28. This trade represents a 1.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.33, for a total transaction of $79,943.29. Following the sale, the director directly owned 119,124 shares in the company, valued at $2,064,418.92. The trade was a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 61,586 shares of company stock worth $1,024,326. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Lyft

A number of institutional investors and hedge funds have recently made changes to their positions in LYFT. Russell Investments Group Ltd. increased its position in Lyft by 17.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 104,121 shares of the ride-sharing company’s stock valued at $1,563,000 after buying an additional 15,527 shares in the last quarter. Ariadne Wealth Management LP boosted its holdings in Lyft by 34.4% in the third quarter. Ariadne Wealth Management LP now owns 14,320 shares of the ride-sharing company’s stock worth $215,000 after acquiring an additional 3,668 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Lyft by 38.0% in the third quarter. Maryland State Retirement & Pension System now owns 104,725 shares of the ride-sharing company’s stock worth $1,572,000 after acquiring an additional 28,847 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Lyft by 5.4% in the third quarter. Illinois Municipal Retirement Fund now owns 704,564 shares of the ride-sharing company’s stock worth $10,576,000 after acquiring an additional 35,793 shares during the last quarter. Finally, Fulcrum Asset Management LLP grew its stake in shares of Lyft by 546.2% in the third quarter. Fulcrum Asset Management LLP now owns 118,384 shares of the ride-sharing company’s stock worth $1,784,000 after acquiring an additional 100,063 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft News Summary

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Lyft reported record rides and gross bookings for Q3, with coverage also highlighting stronger adjusted EBITDA. The CEO said rider growth has remained in double digits for eight consecutive quarters. Lyft reports record rides and gross bookings
• Positive Sentiment: Lyft launched Lyft Go, a $9.99 monthly membership bundling DoorDash DashPass with ride credits. The offering could encourage customer retention and increase use across both services. Lyft debuts joint membership with DoorDash
• Positive Sentiment: Lyft is expanding its Waymo robotaxi fleet in Nashville, while CEO David Risher said autonomous vehicles are not hurting the company’s business. Partnerships may let Lyft participate in autonomous rides without building its own fleet. Lyft to expand Waymo robotaxi fleet
• Neutral Sentiment: Truist raised its price target to $18 from $16 but kept a Hold rating, suggesting limited near-term conviction despite the higher valuation estimate. Truist rating and target
• Negative Sentiment: Q3 results disappointed on reported figures: Lyft posted a $0.03-per-share loss and $1.82 billion in revenue, below cited consensus estimates. Legal, tax, and regulatory reserve changes and settlements—including a reported $117.9 million charge—dented results, although some coverage emphasized stronger adjusted performance. Lyft posts surprise loss on settlement
• Negative Sentiment: Analysts flagged slowing growth and execution risks. Scotiabank cut its target to $16 from $17, and Rosenblatt lowered its target to $18 from $19; both maintained cautious ratings. Analyst commentary on Lyft

About Lyft

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.