UBS Group Lowers Lyft (NASDAQ:LYFT) Price Target to $16.00

Lyft (NASDAQ:LYFT) had its price target lowered by UBS Group from $18.00 to $16.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s price target would suggest a potential upside of 13.72% from the stock’s previous close.

LYFT has been the topic of several other reports. BMO Capital Markets raised their target price on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Wedbush reduced their price objective on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Benchmark raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, January 6th. Tigress Financial lifted their price objective on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Bank of America dropped their price target on Lyft from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.78.

Lyft Stock Performance

Shares of LYFT opened at $14.07 on Monday. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $14.37 and a two-hundred day moving average price of $13.45. The firm has a market capitalization of $5.84 billion, a P/E ratio of -87.94, a P/E/G ratio of 1.86 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities analysts forecast that Lyft will post 0.06 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now owns 332,243 shares in the company, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,242 shares of company stock worth $427,330. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. Dimensional Fund Advisors LP lifted its stake in shares of Lyft by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock worth $2,612,000 after purchasing an additional 1,477 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Lyft by 40.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 33,514 shares of the ride-sharing company’s stock valued at $473,000 after acquiring an additional 9,731 shares during the period. Sanctuary Advisors LLC purchased a new stake in Lyft during the second quarter worth $388,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Lyft by 251.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 87,800 shares of the ride-sharing company’s stock valued at $1,238,000 after acquiring an additional 62,786 shares during the period. Finally, CWM LLC increased its position in shares of Lyft by 512.2% in the third quarter. CWM LLC now owns 42,656 shares of the ride-sharing company’s stock valued at $544,000 after buying an additional 35,688 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.