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

Lyft (NASDAQ:LYFT) had its price objective hoisted by stock analysts at UBS Group from $14.00 to $15.00 in a research note issued on Tuesday,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 6.99% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley cut their price objective on Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on Lyft from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, July 7th. Sanford C. Bernstein boosted their target price on Lyft from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. The Goldman Sachs Group raised Lyft from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, May 9th. Finally, Citigroup reissued a “hold” rating and set a $14.00 target price (down from $22.00) on shares of Lyft in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.98.

Lyft Price Performance

LYFT stock opened at $14.02 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.86 billion, a PE ratio of 93.47, a P/E/G ratio of 2.75 and a beta of 2.20. Lyft has a 12-month low of $8.93 and a 12-month high of $19.07. The business’s fifty day moving average price is $15.29 and its 200 day moving average price is $13.71.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. Lyft’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, sell-side analysts anticipate that Lyft will post 0.22 EPS for the current year.

Insider Activity

In other news, CEO John David Risher bought 6,538 shares of Lyft stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $15.29 per share, with a total value of $99,966.02. Following the acquisition, the chief executive officer owned 11,791,340 shares of the company’s stock, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jill Beggs sold 1,572 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the sale, the director directly owned 20,467 shares of the company’s stock, valued at $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parcion Private Wealth LLC purchased a new stake in Lyft during the 2nd quarter valued at approximately $293,000. Jackson Thornton Wealth Management LLC purchased a new stake in Lyft during the 2nd quarter valued at approximately $212,000. Bogart Wealth LLC raised its stake in Lyft by 1,242.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after acquiring an additional 2,000 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Lyft by 155.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 32,544 shares of the ride-sharing company’s stock valued at $479,000 after acquiring an additional 19,789 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Lyft during the 2nd quarter valued at approximately $1,538,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

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.