UBS Group Has Lowered Expectations for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT - Get Free Report) had its price objective reduced by investment analysts at UBS Group from $18.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the ride-sharing company's stock. UBS Group's target price suggests a potential upside of 15.86% from the stock's current price.

Other equities analysts have also issued reports about the stock. Roth Mkm boosted their price objective on shares of Lyft from $13.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Cantor Fitzgerald upped their target price on shares of Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. BMO Capital Markets increased their price objective on shares of Lyft from $13.00 to $18.00 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. Canaccord Genuity Group upped their target price on shares of Lyft from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Tigress Financial increased their target price on shares of Lyft from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $17.78.

Lyft Price Performance

Shares of LYFT stock traded up $0.27 on Monday, reaching $13.81. The company's stock had a trading volume of 15,424,384 shares, compared to its average volume of 14,610,215. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft has a 12-month low of $8.93 and a 12-month high of $20.82. The company has a market capitalization of $5.73 billion, a P/E ratio of -86.31, a PEG ratio of 1.86 and a beta of 2.14. The stock's 50 day simple moving average is $14.45 and its 200-day simple moving average is $13.44.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The company's revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) earnings per share. As a group, equities analysts predict that Lyft will post 0.06 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Logan Green sold 10,919 shares of the 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 transaction, the director now directly owns 314,492 shares of the company's stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the transaction, the chief accounting officer now directly owns 332,243 shares in the company, valued at $5,987,018.86. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,242 shares of company stock valued at $427,330. Company insiders own 3.07% of the company's stock.

Hedge Funds Weigh In On Lyft

Several hedge funds have recently added to or reduced their stakes in LYFT. Sanctuary Advisors LLC grew its holdings in 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 during the period. XTX Topco Ltd lifted its position in Lyft by 2.5% during the third 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 in the last quarter. Manchester Capital Management LLC lifted its position in Lyft by 13.8% during the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock valued at $115,000 after buying an additional 1,080 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Lyft by 4.5% during the fourth quarter. Summit Trail Advisors LLC now owns 27,249 shares of the ride-sharing company's stock valued at $352,000 after buying an additional 1,182 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Lyft by 11.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 12,864 shares of the ride-sharing company's stock valued at $166,000 after buying an additional 1,277 shares in the last quarter. 83.07% of the stock is currently 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.