LYFT’s (LYFT) Buy Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of LYFT (NASDAQ:LYFT) in a research report report published on Sunday, AnalystRatings.com reports. Royal Bank of Canada currently has a $47.00 price target on the ride-sharing company’s stock.

LYFT has been the topic of a number of other reports. Piper Sandler reiterated a buy rating and issued a $63.00 target price on shares of LYFT in a research note on Tuesday, March 3rd. Northcoast Research upgraded shares of LYFT from a neutral rating to a buy rating and set a $60.00 price objective on the stock in a research note on Monday, February 10th. Piper Jaffray Companies cut their price objective on shares of LYFT from $79.00 to $60.00 and set an overweight rating on the stock in a research note on Tuesday, December 3rd. MKM Partners lifted their price objective on shares of LYFT to in a research note on Wednesday, February 12th. Finally, Wedbush restated a buy rating on shares of LYFT in a research note on Tuesday, December 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $60.31.

LYFT stock traded down $0.19 during mid-day trading on Friday, reaching $26.73. The company had a trading volume of 3,761,645 shares, compared to its average volume of 13,349,138. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $8.46 billion and a P/E ratio of -0.50. LYFT has a one year low of $14.56 and a one year high of $88.60. The stock’s 50-day simple moving average is $35.61 and its two-hundred day simple moving average is $42.50.

LYFT (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 11th. The ride-sharing company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.03. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $984.49 million. LYFT had a negative return on equity of 167.96% and a negative net margin of 71.96%. On average, research analysts forecast that LYFT will post -4.33 EPS for the current fiscal year.

In other LYFT news, General Counsel Kristin Sverchek sold 1,500 shares of LYFT stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $47.51, for a total transaction of $71,265.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ran I. Makavy sold 15,000 shares of LYFT stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.63, for a total value of $609,450.00. The disclosure for this sale can be found here. Insiders sold a total of 21,722 shares of company stock worth $951,261 in the last three months.

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its stake in LYFT by 36.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 838 shares of the ride-sharing company’s stock valued at $36,000 after acquiring an additional 222 shares in the last quarter. Advisory Services Network LLC grew its stake in LYFT by 41.4% during the 4th quarter. Advisory Services Network LLC now owns 976 shares of the ride-sharing company’s stock valued at $42,000 after acquiring an additional 286 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in LYFT by 22.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,175 shares of the ride-sharing company’s stock valued at $94,000 after acquiring an additional 400 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of LYFT by 10.6% during the 4th quarter. CSat Investment Advisory L.P. now owns 4,652 shares of the ride-sharing company’s stock valued at $200,000 after buying an additional 445 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of LYFT during the 1st quarter valued at about $39,000. 61.52% of the stock is currently owned by institutional investors.

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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