Bernstein Bank started coverage on shares of LYFT (NASDAQ:LYFT) in a report issued on Friday morning, Stock Target Advisor reports. The brokerage issued a market perform rating and a $48.00 price target on the ride-sharing company’s stock.
LYFT has been the topic of several other research reports. Stifel Nicolaus reissued a buy rating and issued a $70.00 price target on shares of LYFT in a report on Thursday, October 31st. Piper Jaffray Companies lowered their price target on shares of LYFT from $79.00 to $60.00 and set an overweight rating on the stock in a report on Tuesday, December 3rd. Wolfe Research raised shares of LYFT from an underperform rating to a peer perform rating and set a $36.00 price target on the stock in a report on Monday, October 21st. Tigress Financial reissued a buy rating on shares of LYFT in a report on Friday, December 6th. Finally, Sanford C. Bernstein started coverage on shares of LYFT in a report on Thursday, January 9th. They issued a market perform rating and a $48.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $66.94.
NASDAQ:LYFT opened at $46.35 on Friday. LYFT has a 12 month low of $37.07 and a 12 month high of $88.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50 day moving average is $46.19 and its 200-day moving average is $49.41.
LYFT (NASDAQ:LYFT) last announced its earnings results on Wednesday, October 30th. The ride-sharing company reported ($1.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.66) by $0.09. The company had revenue of $955.60 million for the quarter, compared to the consensus estimate of $915.15 million. The firm’s quarterly revenue was up 63.4% compared to the same quarter last year. Sell-side analysts forecast that LYFT will post -10.41 EPS for the current year.
In other news, General Counsel Kristin Sverchek sold 10,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $43.98, for a total value of $439,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Keith Roberts sold 17,589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $43.80, for a total value of $770,398.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,909 shares of company stock valued at $10,435,627.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Coastal Investment Advisors Inc. increased its stake in LYFT by 451.2% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 700 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 573 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in LYFT during the 1st quarter worth approximately $39,000. Metropolitan Life Insurance Co NY bought a new stake in LYFT during the 3rd quarter worth approximately $40,000. Valeo Financial Advisors LLC increased its stake in LYFT by 37.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,097 shares of the ride-sharing company’s stock worth $45,000 after purchasing an additional 300 shares in the last quarter. Finally, Price Wealth LLC bought a new stake in LYFT during the 3rd quarter worth approximately $56,000. 44.35% of the stock is owned by institutional investors and hedge funds.
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.
Read More: What is a Derivative?
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.