Lyft (NASDAQ:LYFT) Price Target Lowered to $15.00 at UBS Group

Lyft (NASDAQ:LYFT) had its target price reduced by analysts at UBS Group from $16.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s price target points to a potential upside of 8.50% from the stock’s previous close.

LYFT has been the topic of several other reports. Wells Fargo & Company lowered 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. TD Cowen increased their target price on shares of Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. DA Davidson increased their target price on shares of Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Roth Mkm increased their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Twenty-seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average price target of $17.34.

Lyft Stock Down 3.9 %

Shares of NASDAQ LYFT traded down $0.57 during mid-day trading on Wednesday, reaching $13.83. The company had a trading volume of 57,143,673 shares, compared to its average volume of 18,613,449. Lyft has a twelve month low of $8.93 and a twelve month 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 market capitalization of $5.73 billion, a PE ratio of -85.97, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16. The stock’s 50 day moving average is $14.00 and its 200-day moving average is $13.52.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. As a group, equities analysts anticipate that Lyft will post 0.06 earnings per share for the current fiscal year.

Lyft declared that its board has initiated a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Logan Green sold 10,919 shares of Lyft stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in shares of Lyft during the 2nd quarter valued at $388,000. CWM LLC raised its position in shares of Lyft by 512.2% during the 3rd quarter. CWM LLC now owns 42,656 shares of the ride-sharing company’s stock valued at $544,000 after acquiring an additional 35,688 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Lyft during the 3rd quarter valued at $284,000. Vontobel Holding Ltd. raised its position in shares of Lyft by 21.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 47,181 shares of the ride-sharing company’s stock valued at $602,000 after acquiring an additional 8,408 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Lyft by 2,103.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company’s stock valued at $252,000 after acquiring an additional 18,868 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

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.