UBS Group Boosts Lyft (NASDAQ:LYFT) Price Target to $18.00

Lyft (NASDAQ:LYFT) had its target price increased by research analysts at UBS Group from $13.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s target price would indicate a potential upside of 1.24% from the stock’s previous close.

LYFT has been the subject of several other reports. Royal Bank of Canada reduced their price target on Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Susquehanna lowered their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Benchmark reissued a “hold” rating on shares of Lyft in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Melius initiated coverage on shares of Lyft in a report on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price for the company. Twenty-eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.23.

Lyft Stock Up 0.5 %

Shares of LYFT traded up $0.09 during trading hours on Thursday, hitting $17.78. 28,925,410 shares of the company were exchanged, compared to its average volume of 13,179,118. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50 day moving average is $12.96 and its 200-day moving average is $13.54. The company has a market cap of $7.29 billion, a PE 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.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company posted ($0.14) EPS. Lyft’s revenue was up 40.6% on a year-over-year basis. On average, equities research analysts forecast that Lyft will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of Lyft stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total value of $81,943.20. Following the transaction, the director now directly owns 932,062 shares in the company, valued at approximately $10,625,506.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the transaction, the insider now owns 764,332 shares in the company, valued at approximately $8,988,544.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the transaction, the director now owns 932,062 shares in the company, valued at approximately $10,625,506.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,664 shares of company stock worth $380,048 in the last 90 days. Company insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

A number of large investors have recently modified their holdings of LYFT. Crossmark Global Holdings Inc. raised its position in Lyft by 4.4% in the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after acquiring an additional 993 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock valued at $196,000 after purchasing an additional 1,160 shares during the period. QRG Capital Management Inc. boosted its holdings in Lyft by 6.1% during the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock worth $350,000 after buying an additional 1,437 shares in the last quarter. CWM LLC grew its position in Lyft by 26.4% during the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after buying an additional 1,457 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Lyft by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock valued at $2,612,000 after buying an additional 1,477 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other 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.