Lyft (NASDAQ:LYFT) Given New $18.00 Price Target at UBS Group

Lyft (NASDAQ:LYFT) had its price objective hoisted by stock analysts at UBS Group from $13.00 to $18.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s price target indicates a potential downside of 0.66% from the company’s previous close.

LYFT has been the topic of a number of other research reports. Cantor Fitzgerald increased their target price on Lyft from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group increased their target price on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Melius Research initiated coverage on Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price on the stock. BMO Capital Markets reduced their price objective on Lyft from $19.00 to $13.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Raymond James initiated coverage on Lyft in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock. Twenty-eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.74.

Lyft Price Performance

Lyft stock traded up $3.72 during mid-day trading on Thursday, reaching $18.12. 38,034,786 shares of the company were exchanged, compared to its average volume of 14,875,382. The company has a fifty day simple moving average of $12.71 and a 200-day simple moving average of $13.50. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $7.43 billion, a PE ratio of -113.69 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last posted 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The company’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 research analysts expect that Lyft will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Logan Green sold 10,323 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock worth $380,048 over the last three months. Company insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Lyft during the second quarter valued at approximately $35,000. Brown Brothers Harriman & Co. bought a new stake in Lyft in the 2nd quarter worth approximately $35,000. Capital Performance Advisors LLP bought a new stake in Lyft in the 3rd quarter worth approximately $38,000. Allspring Global Investments Holdings LLC bought a new stake in Lyft in the 1st quarter worth approximately $41,000. Finally, Quarry LP grew its position in Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after purchasing an additional 3,468 shares during the period. 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.