Home Market News Lyft (NASDAQ:LYFT) Price Target Cut to $13.00 by Analysts at Susquehanna

Lyft (NASDAQ:LYFT) Price Target Cut to $13.00 by Analysts at Susquehanna

by MarketBeat News

Lyft (NASDAQ:LYFT – Get Rating) had its price objective trimmed by Susquehanna from $23.00 to $13.00 in a research note issued to investors on Tuesday morning, The Fly reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

LYFT has been the topic of a number of other reports. BTIG Research dropped their target price on shares of Lyft from $60.00 to $20.00 and set a buy rating on the stock in a research note on Tuesday, July 19th. Truist Financial dropped their target price on shares of Lyft from $47.00 to $40.00 and set a buy rating on the stock in a research note on Monday, October 24th. Gordon Haskett raised shares of Lyft from a hold rating to a buy rating and set a $24.00 price target for the company in a research report on Wednesday, October 12th. Evercore ISI cut shares of Lyft from an outperform rating to an in-line rating and lowered their price target for the stock from $41.00 to $18.00 in a research report on Tuesday. Finally, UBS Group lowered their price target on shares of Lyft from $16.00 to $12.00 and set a neutral rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $29.13.

Lyft Price Performance

Shares of LYFT stock opened at $12.70 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $4.43 billion, a P/E ratio of -3.55 and a beta of 1.68. The company’s 50-day simple moving average is $14.13 and its two-hundred day simple moving average is $16.14. Lyft has a one year low of $10.60 and a one year high of $53.59.

Institutional Inflows and Outflows

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A number of hedge funds have recently bought and sold shares of the stock. Daiwa Securities Group Inc. increased its stake in Lyft by 3.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,949 shares of the ride-sharing company’s stock valued at $536,000 after purchasing an additional 500 shares in the last quarter. Excalibur Management Corp increased its stake in Lyft by 3.5% during the 1st quarter. Excalibur Management Corp now owns 15,212 shares of the ride-sharing company’s stock valued at $584,000 after purchasing an additional 520 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Lyft by 4.1% in the first quarter. Geneos Wealth Management Inc. now owns 13,303 shares of the ride-sharing company’s stock worth $510,000 after acquiring an additional 530 shares during the period. Castleview Partners LLC increased its stake in shares of Lyft by 1,228.0% in the second quarter. Castleview Partners LLC now owns 664 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 614 shares during the period. Finally, Wrapmanager Inc. increased its stake in shares of Lyft by 6.6% in the second quarter. Wrapmanager Inc. now owns 10,391 shares of the ride-sharing company’s stock worth $138,000 after acquiring an additional 641 shares during the period. Institutional investors and hedge funds own 76.49% of the company’s stock.

Lyft Company Profile

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Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.

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Analyst Recommendations for Lyft (NASDAQ:LYFT)

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