On February 10, 2023, JP Morgan downgraded their outlook for LYFT from Overweight to Neutral.

Analyst Price Forecast Suggests 38.81% Upside

As of February 11, 2023, the average one-year price target for LYFT is $22.52. The forecasts range from a low of $11.11 to a high of $69.43. The average price target represents an increase of 38.81% from its latest reported closing price of $16.22.

The projected annual revenue for LYFT is $4,935MM, an increase of 20.51%. The projected annual EPS is $0.90.

What are large shareholders doing?

FBGRX – Fidelity Blue Chip Growth Fund holds 18,677K shares representing 5.17% ownership of the company. In it’s prior filing, the firm reported owning 17,847K shares, representing an increase of 4.44%. The firm increased its portfolio allocation in LYFT by 24.78% over the last quarter.

Fisher Asset Management holds 10,990K shares representing 3.04% ownership of the company. In it’s prior filing, the firm reported owning 11,725K shares, representing a decrease of 6.69%. The firm decreased its portfolio allocation in LYFT by 29.27% over the last quarter.

Contrarius Investment Management holds 10,434K shares representing 2.89% ownership of the company.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,718K shares representing 2.42% ownership of the company. In it’s prior filing, the firm reported owning 8,487K shares, representing an increase of 2.65%. The firm increased its portfolio allocation in LYFT by 6.19% over the last quarter.

Alkeon Capital Management holds 7,823K shares representing 2.17% ownership of the company. In it’s prior filing, the firm reported owning 5,573K shares, representing an increase of 28.76%. The firm increased its portfolio allocation in LYFT by 67.22% over the last quarter.

What is the Fund Sentiment?

There are 823 funds or institutions reporting positions in LYFT. This is a decrease of 61 owner(s) or 6.90% in the last quarter. Average portfolio weight of all funds dedicated to LYFT is 0.20%, an increase of 24.39%. Total shares owned by institutions increased in the last three months by 9.10% to 335,375K shares. The put/call ratio of LYFT is 0.67, indicating a bullish outlook.

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.

This article originally appeared on Fintel

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