Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS raised Lyft’s price target from $17 to $18 while maintaining a “neutral” rating, implying 8.3% upside from the prior close.
• Analyst sentiment remains mixed but broadly cautious: Lyft has a consensus “Hold” rating and an average price target of $19.23 from 38 analysts.
• Lyft shares rose 2.8% to $16.62, while the company reported quarterly revenue of $1.84 billion—above estimates—but earnings per share of $0.13 missed expectations by one cent.

Lyft (NASDAQ:LYFT - Get Free Report) had its price objective boosted by research analysts at UBS Group from $17.00 to $18.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the ride-sharing company's stock. UBS Group's price objective indicates a potential upside of 8.30% from the company's previous close.

LYFT has been the topic of a number of other reports. TD Cowen lowered their price target on shares of Lyft from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Wednesday, October 21st. Guggenheim lowered Lyft from a "buy" rating to a "neutral" rating and cut their target price for the company from $22.00 to $16.00 in a research report on Thursday, September 17th. Scotiabank assumed coverage on Lyft in a report on Wednesday, September 9th. They issued a "sector perform" rating and a $17.00 price objective on the stock. BTIG Research reiterated a "neutral" rating on shares of Lyft in a research note on Friday, September 18th. Finally, Rosenblatt Securities initiated coverage on shares of Lyft in a research report on Tuesday, September 1st. They issued a "neutral" rating and a $19.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.23.

Lyft Stock Up 2.8%

LYFT traded up $0.46 during trading on Monday, reaching $16.62. The stock had a trading volume of 10,644,109 shares, compared to its average volume of 13,659,252. Lyft has a one year low of $12.46 and a one year high of $25.54. The stock's 50 day moving average is $16.21 and its two-hundred day moving average is $15.16. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 2.42, a P/E/G ratio of 1.00 and a beta of 1.95. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company earned $0.10 earnings per share. Lyft's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts expect that Lyft will post 0.81 earnings per share for the current year.

Insider Activity

In other news, CAO Stephen W. Hope sold 5,982 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.34, for a total transaction of $103,727.88. Following the sale, the chief accounting officer owned 299,974 shares of the company's stock, valued at $5,201,549.16. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of Lyft stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.33, for a total transaction of $79,943.29. Following the completion of the sale, the director owned 119,124 shares in the company, valued at $2,064,418.92. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 75,806 shares of company stock valued at $1,266,066. 0.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new position in shares of Lyft in the second quarter valued at about $27,000. Boreal Capital Management LLC acquired a new position in shares of Lyft during the 1st quarter worth $31,000. Signaturefd LLC boosted its stake in Lyft by 166.5% in the third quarter. Signaturefd LLC now owns 2,593 shares of the ride-sharing company's stock valued at $39,000 after buying an additional 1,620 shares in the last quarter. Bessemer Group Inc. lifted its stake in Lyft by 1,851.9% in the 1st quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company's stock valued at $35,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of Lyft during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Company Profile

Lyft, Inc is a technology company that operates a transportation network platform in the United States and Canada. Its platform connects passengers with drivers through a mobile application and website, primarily offering on-demand rides in private vehicles, taxis and other transportation options.

The company also provides access to bicycles and scooters in select markets, as well as vehicle rentals and transportation solutions for businesses, healthcare organizations and other institutions.

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