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

Lyft (NASDAQ:LYFT) had its price target dropped by investment analysts at UBS Group from $18.00 to $16.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s price target would suggest a potential upside of 17.09% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Tigress Financial increased their price target on Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company lowered their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets raised their target price on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Bank of America lowered their price target on shares of Lyft from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Roth Mkm lifted their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Twenty-seven investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.78.

Lyft Stock Up 0.9 %

Shares of Lyft stock traded up $0.13 on Monday, hitting $13.67. 6,750,878 shares of the company’s stock traded hands, compared to its average volume of 14,180,859. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a market cap of $5.67 billion, a P/E ratio of -85.22, a PEG ratio of 1.86 and a beta of 2.14. The firm’s 50-day moving average is $14.45 and its 200 day moving average is $13.44.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating 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 analyst estimates of $1.44 billion. During the same period in the previous year, the company earned ($0.02) earnings per share. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. Equities analysts anticipate that Lyft will post 0.06 earnings per share for the current year.

Insiders Place Their Bets

In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the transaction, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,242 shares of company stock valued at $427,330 in the last three months. Insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after purchasing an additional 2,302,248 shares during the last quarter. Nordea Investment Management AB grew its stake in Lyft by 59.6% in the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after buying an additional 142,880 shares during the last quarter. KBC Group NV raised its holdings in Lyft by 354.9% in the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock worth $3,434,000 after acquiring an additional 207,672 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in Lyft by 10,225.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock worth $5,475,000 after acquiring an additional 420,274 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Lyft during the second quarter valued at about $388,000. 83.07% of the stock is owned by institutional investors.

About Lyft

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.