UBS Group Issues Positive Forecast for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its target price upped by UBS Group from $13.00 to $18.00 in a research note released on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the ride-sharing company’s stock.

Other equities analysts also recently issued research reports about the stock. Benchmark reissued a “hold” rating on shares of Lyft in a research note on Thursday. Susquehanna lowered their target price on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald raised their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $23.00 price target (up from $17.00) on shares of Lyft in a report on Thursday. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.23.

Lyft Price Performance

LYFT stock opened at $17.78 on Thursday. The company has a fifty day moving average price of $12.96 and a 200-day moving average price of $13.51. The company has a market capitalization of $7.29 billion, a P/E ratio of -111.13 and a beta of 2.04. Lyft has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm earned ($0.02) earnings per share. Lyft’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, equities analysts expect that Lyft will post -0.06 EPS for the current year.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the transaction, the insider now directly owns 760,089 shares of the company’s stock, valued at $9,121,068. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the transaction, the insider now directly owns 760,089 shares of the company’s stock, valued at approximately $9,121,068. This trade represents 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 valued at $380,048 in the last three months. Company insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in Lyft in the 2nd quarter worth approximately $35,000. Brown Brothers Harriman & Co. bought a new position in Lyft in the 2nd quarter worth approximately $35,000. Capital Performance Advisors LLP bought a new position in Lyft in the 3rd quarter worth approximately $38,000. Allspring Global Investments Holdings LLC bought a new position in Lyft in the 1st quarter worth approximately $41,000. Finally, Quarry LP boosted its holdings 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 buying an additional 3,468 shares during the period. 83.07% of the stock is owned by institutional investors.

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.