Lyft (NASDAQ:LYFT) Now Covered by Analysts at Raymond James

Analysts at Raymond James assumed coverage on shares of Lyft (NASDAQ:LYFT) in a research report issued to clients and investors on Tuesday, StockNewsAPI reports. The firm set a “market perform” rating on the ride-sharing company’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Susquehanna cut their target price on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Bank of America upgraded Lyft from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $20.00 in a research note on Friday, June 7th. TD Cowen dropped their price target on shares of Lyft from $18.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twenty-seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $15.65.

Lyft Stock Up 2.0 %

Shares of NASDAQ LYFT opened at $12.72 on Tuesday. The company has a market capitalization of $5.13 billion, a P/E ratio of -27.06 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The company has a 50 day simple moving average of $11.54 and a 200-day simple moving average of $14.62. Lyft has a 1 year low of $8.85 and a 1 year high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, equities research analysts predict that Lyft will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Logan Green sold 10,323 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Lyft news, President Kristin Sverchek sold 3,500 shares of Lyft stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $14.01, for a total value of $49,035.00. Following the completion of the sale, the president now owns 50,778 shares in the company, valued at approximately $711,399.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Logan Green sold 10,323 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at $3,843,779.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,164 shares of company stock worth $470,513. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. Healthcare of Ontario Pension Plan Trust Fund increased its position in Lyft by 251.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 87,800 shares of the ride-sharing company’s stock worth $1,238,000 after purchasing an additional 62,786 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lyft in the second quarter worth $388,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Lyft by 40.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 33,514 shares of the ride-sharing company’s stock valued at $473,000 after acquiring an additional 9,731 shares during the period. Quarry LP raised its stake in shares of Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after acquiring an additional 3,468 shares during the period. Finally, Algert Global LLC lifted its holdings in shares of Lyft by 92.0% during the 2nd quarter. Algert Global LLC now owns 213,039 shares of the ride-sharing company’s stock valued at $3,004,000 after acquiring an additional 102,109 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

About Lyft

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.