UBS Group Increases Lyft (NASDAQ:LYFT) Price Target to $13.00

Lyft (NASDAQ:LYFT) had its target price upped by investment analysts at UBS Group from $12.00 to $13.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s target price would indicate a potential downside of 7.08% from the stock’s previous close.

Several other equities analysts also recently weighed in on LYFT. Melius assumed coverage on Lyft in a research report on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price on the stock. Truist Financial reduced their price objective on Lyft from $18.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Evercore ISI lowered their price target on shares of Lyft from $18.00 to $17.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Loop Capital decreased their target price on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.68.

Lyft Price Performance

Shares of LYFT stock opened at $13.99 on Friday. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -29.77 and a beta of 2.04. Lyft has a fifty-two week low of $8.85 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The stock’s 50-day simple moving average is $12.03 and its 200-day simple moving average is $13.88.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business’s revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) EPS. As a group, equities analysts forecast that Lyft will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Logan Green sold 10,323 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the sale, the director now owns 330,790 shares in the company, valued at $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the sale, the insider now owns 760,089 shares in the company, valued at approximately $9,121,068. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,664 shares of company stock worth $380,048 in the last three months. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its stake in shares of Lyft by 15.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock worth $767,000 after purchasing an additional 5,184 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Lyft by 2.0% during the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after buying an additional 13,300 shares during the last quarter. Range Financial Group LLC bought a new stake in shares of Lyft in the first quarter valued at approximately $470,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft in the first quarter worth $41,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Lyft by 430.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 3,154 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.