Fintel reports that on October 25, 2024, Benchmark initiated coverage of Lyft (NasdaqGS:LYFT) with a Hold recommendation.
Analyst Price Forecast Suggests 14.12% Upside
As of October 22, 2024, the average one-year price target for Lyft is $15.30/share. The forecasts range from a low of $10.10 to a high of $27.30. The average price target represents an increase of 14.12% from its latest reported closing price of $13.41 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lyft is 5,658MM, an increase of 11.05%. The projected annual non-GAAP EPS is 1.60.
What is the Fund Sentiment?
There are 739 funds or institutions reporting positions in Lyft. This is an increase of 52 owner(s) or 7.57% in the last quarter. Average portfolio weight of all funds dedicated to LYFT is 0.18%, an increase of 15.10%. Total shares owned by institutions increased in the last three months by 2.67% to 346,916K shares. 
The put/call ratio of LYFT is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
FBGRX - Fidelity Blue Chip Growth Fund holds 21,534K shares representing 5.36% ownership of the company. In its prior filing, the firm reported owning 21,735K shares , representing a decrease of 0.93%. The firm decreased its portfolio allocation in LYFT by 31.57% over the last quarter.
Ubs Asset Management Americas holds 17,972K shares representing 4.47% ownership of the company. In its prior filing, the firm reported owning 19,824K shares , representing a decrease of 10.30%. The firm decreased its portfolio allocation in LYFT by 46.69% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,458K shares representing 2.60% ownership of the company. In its prior filing, the firm reported owning 10,563K shares , representing a decrease of 1.00%. The firm decreased its portfolio allocation in LYFT by 29.85% over the last quarter.
Qube Research & Technologies holds 10,280K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 2,754K shares , representing an increase of 73.21%. The firm increased its portfolio allocation in LYFT by 171.14% over the last quarter.
Ameriprise Financial holds 8,824K shares representing 2.20% ownership of the company. In its prior filing, the firm reported owning 5,686K shares , representing an increase of 35.56%. The firm increased its portfolio allocation in LYFT by 11.33% over the last quarter.
Lyft Background Information
(This description is provided by the company.)
Lyft was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. Its transportation network brings together rideshare, bikes, scooters, car rentals and transit all in one app. The Company is singularly driven by its mission: to improve people's lives with the world's best transportation.
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This story originally appeared on Fintel.
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