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

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

A number of other research firms have also recently weighed in on LYFT. Susquehanna boosted their price target on Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. BMO Capital Markets boosted their target price on shares of Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Truist Financial upped their target price on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price target on shares of Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Finally, Benchmark raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, January 6th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lyft has an average rating of “Hold” and an average target price of $17.78.

Lyft Stock Up 1.9 %

LYFT stock opened at $14.07 on Monday. The stock has a market cap of $5.84 billion, a P/E ratio of -87.94, a PEG ratio of 1.86 and a beta of 2.16. Lyft has a twelve month low of $8.93 and a twelve month high of $20.82. The company’s 50 day moving average is $14.37 and its two-hundred day moving average is $13.45. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

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

Insiders Place Their Bets

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the completion of the transaction, the insider now directly owns 755,847 shares in the company, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock worth $427,330 over the last ninety days. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several institutional investors have recently made changes to their positions in LYFT. Pacer Advisors Inc. bought a new stake in shares of Lyft in the 3rd quarter worth approximately $90,604,000. Maple Rock Capital Partners Inc. grew its holdings in shares of Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after purchasing an additional 2,838,000 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Lyft by 7,536.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock valued at $23,927,000 after buying an additional 1,830,533 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Lyft by 27.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after buying an additional 1,735,208 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Lyft in the third quarter valued at about $13,430,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.