LYFT (NASDAQ:LYFT) Given “Buy” Rating at JMP Securities

JMP Securities reissued their buy rating on shares of LYFT (NASDAQ:LYFT) in a report published on Monday morning, TipRanks reports. The firm currently has a $88.00 price target on the ride-sharing company’s stock.

Other research analysts have also recently issued research reports about the stock. Wolfe Research upgraded shares of LYFT from an underperform rating to a peer perform rating and set a $36.00 price target for the company in a report on Monday, October 21st. Loop Capital upgraded shares of LYFT from a hold rating to a buy rating and set a $62.00 price target for the company in a report on Monday, November 25th. UBS Group reduced their price target on shares of LYFT from $78.00 to $64.00 and set a buy rating for the company in a report on Friday, January 17th. MKM Partners upped their price target on shares of LYFT to $50.00 and gave the company a neutral rating in a report on Thursday, October 31st. Finally, KeyCorp reiterated a hold rating on shares of LYFT in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-one have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $65.55.

LYFT stock opened at $47.03 on Monday. LYFT has a twelve month low of $37.07 and a twelve month high of $88.60. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $46.89 and a 200-day moving average of $47.00.

LYFT (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported ($1.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.22) by $0.03. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $984.49 million. As a group, analysts anticipate that LYFT will post -10.41 EPS for the current fiscal year.

In other LYFT news, General Counsel Kristin Sverchek sold 9,410 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $44.13, for a total value of $415,263.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President John Patrick Zimmer sold 39,037 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $43.60, for a total transaction of $1,702,013.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,072 shares of company stock worth $7,950,163.

Several large investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of LYFT by 147.2% in the fourth quarter. FMR LLC now owns 42,686,898 shares of the ride-sharing company’s stock valued at $1,836,390,000 after acquiring an additional 25,416,234 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of LYFT by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,684,762 shares of the ride-sharing company’s stock valued at $158,519,000 after acquiring an additional 171,421 shares in the last quarter. State Street Corp grew its stake in shares of LYFT by 99.4% in the fourth quarter. State Street Corp now owns 3,249,242 shares of the ride-sharing company’s stock valued at $139,782,000 after acquiring an additional 1,620,112 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of LYFT by 14.9% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 2,704,407 shares of the ride-sharing company’s stock valued at $116,343,000 after acquiring an additional 351,599 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of LYFT by 14.5% in the fourth quarter. Franklin Resources Inc. now owns 1,053,074 shares of the ride-sharing company’s stock valued at $45,303,000 after acquiring an additional 133,698 shares in the last quarter. Hedge funds and other institutional investors own 44.44% 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 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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