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

Lyft (NASDAQ:LYFT) had its price objective lowered by UBS Group from $18.00 to $16.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the ride-sharing company’s stock.

A number of other equities analysts have also recently commented on the stock. Loop Capital lifted their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company cut their target price on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research report on Thursday, November 7th. Jefferies Financial Group increased their price objective on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Barclays boosted their price objective on shares of Lyft from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lyft presently has a consensus rating of “Hold” and an average target price of $17.78.

Lyft Stock Performance

Shares of LYFT stock opened at $13.81 on Monday. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of -86.31, a price-to-earnings-growth ratio of 1.86 and a beta of 2.14. 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 company’s 50-day moving average is $14.45 and its 200 day moving average is $13.44. Lyft has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last released its earnings results 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 net margin of 1.19% and a negative return on equity of 1.58%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted ($0.02) EPS. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. Sell-side analysts expect that Lyft will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at Lyft

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. The trade was a 2.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now owns 755,847 shares of the company’s stock, valued at $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 three months, insiders have sold 24,242 shares of company stock worth $427,330. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Lyft by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after purchasing an additional 1,477 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Lyft by 40.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 33,514 shares of the ride-sharing company’s stock worth $473,000 after acquiring an additional 9,731 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Lyft in the 2nd quarter valued at $388,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Lyft by 251.0% during the second 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 Lyft by 512.2% during the 3rd quarter. CWM LLC now owns 42,656 shares of the ride-sharing company’s stock worth $544,000 after purchasing an additional 35,688 shares in the last quarter. 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.