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

Lyft (NASDAQ:LYFT - Free Report) had its target price decreased by UBS Group from $16.00 to $15.00 in a report released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the ride-sharing company's stock.

Several other equities research analysts have also issued reports on LYFT. Piper Sandler reiterated an "overweight" rating and set a $18.00 price target (down from $23.00) on shares of Lyft in a report on Wednesday. Royal Bank of Canada dropped their price target on shares of Lyft from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday. TD Cowen lifted their price objective on shares of Lyft from $16.00 to $18.00 and gave the company a "hold" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of Lyft from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Barclays reduced their price target on Lyft from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Wednesday. Twenty-six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.22.

Lyft Stock Down 0.3 %

Shares of NASDAQ LYFT traded down $0.04 during mid-day trading on Wednesday, reaching $13.43. The company had a trading volume of 22,272,233 shares, compared to its average volume of 13,646,594. The stock has a fifty day moving average of $13.83 and a two-hundred day moving average of $13.54. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of -83.94, a PEG ratio of 1.94 and a beta of 2.16. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. As a group, equities research analysts expect that Lyft will post 0.06 EPS for the current year.

Lyft announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Activity

In other news, Director Logan Green sold 10,919 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares of the company's stock, valued at $5,424,987. The trade was a 3.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lyft

Several institutional investors have recently modified their holdings of LYFT. QRG Capital Management Inc. raised its holdings in Lyft by 3.8% during the 4th quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock worth $316,000 after buying an additional 903 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Lyft by 3.5% in the third quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock valued at $363,000 after purchasing an additional 969 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of Lyft by 6.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock worth $207,000 after buying an additional 970 shares in the last quarter. XTX Topco Ltd raised its position in Lyft by 2.5% in the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock valued at $538,000 after buying an additional 1,043 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Lyft by 2.6% in the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock valued at $536,000 after acquiring an additional 1,045 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

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.