LYFT (NASDAQ:LYFT) Stock Rating Reaffirmed by JMP Securities

LYFT (NASDAQ:LYFT)‘s stock had its “buy” rating reiterated by equities researchers at JMP Securities in a report released on Monday, Stock Target Advisor reports. They presently have a $88.00 target price on the ride-sharing company’s stock. JMP Securities’ price target would suggest a potential upside of 99.95% from the company’s current price.

Several other research analysts also recently issued reports on the stock. DA Davidson upped their target price on shares of LYFT from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus reissued a “buy” rating and set a $70.00 price target on shares of LYFT in a research report on Thursday, October 31st. Daiwa Capital Markets set a $70.00 price target on shares of LYFT and gave the company a “buy” rating in a research report on Monday, August 12th. Guggenheim upgraded shares of LYFT from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, August 26th. Finally, Barclays lowered their price objective on LYFT from $63.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have issued a buy rating to the company. LYFT presently has a consensus rating of “Buy” and a consensus target price of $69.39.

Shares of NASDAQ LYFT traded down $0.14 on Monday, reaching $44.01. 396,944 shares of the company’s stock traded hands, compared to its average volume of 6,992,523. The business’s 50 day simple moving average is $41.76 and its two-hundred day simple moving average is $52.73. 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.

LYFT (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, October 30th. The ride-sharing company reported ($1.57) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.66) by $0.09. The firm had revenue of $955.60 million for the quarter, compared to analysts’ expectations of $915.15 million. LYFT’s revenue for the quarter was up 63.4% on a year-over-year basis. Analysts expect that LYFT will post -10.59 EPS for the current fiscal year.

In other LYFT news, EVP Ran I. Makavy sold 35,000 shares of LYFT stock in a transaction on Monday, October 21st. The shares were sold at an average price of $43.23, for a total value of $1,513,050.00. Also, General Counsel Kristin Sverchek sold 30,000 shares of LYFT stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $42.95, for a total transaction of $1,288,500.00. Insiders sold 106,000 shares of company stock worth $4,717,220 over the last quarter.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coastal Investment Advisors Inc. boosted its stake in LYFT by 451.2% during the third quarter. Coastal Investment Advisors Inc. now owns 700 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 573 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in LYFT in the second quarter worth $34,000. Flagship Harbor Advisors LLC bought a new stake in LYFT in the second quarter worth $37,000. RPG Investment Advisory LLC raised its stake in LYFT by 500.0% during the second quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in LYFT during the second quarter valued at $38,000. 37.52% of the stock is owned by institutional investors and hedge funds.

LYFT Company Profile

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.

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Analyst Recommendations for LYFT (NASDAQ:LYFT)

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