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

Lyft (NASDAQ:LYFT) had its target price cut by research analysts at UBS Group from $16.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the ride-sharing company’s stock. UBS Group’s target price would indicate a potential upside of 8.50% from the company’s previous close.

LYFT has been the subject of a number of other reports. Roth Mkm upped their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company cut their price target on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Tigress Financial boosted their price target on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. BMO Capital Markets cut their price target on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Wedbush cut their price target on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.34.

Lyft Stock Down 3.9 %

NASDAQ LYFT traded down $0.57 on Wednesday, reaching $13.83. The company had a trading volume of 57,143,673 shares, compared to its average volume of 18,613,449. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -85.97, a price-to-earnings-growth 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 has a 1-year low of $8.93 and a 1-year high of $20.82. The company’s fifty day moving average is $14.00 and its 200-day moving average is $13.52.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. On average, research analysts forecast that Lyft will post 0.06 earnings per share for the current fiscal year.

Lyft announced that its board has initiated a stock buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.07% of the stock is currently owned by company insiders.

Institutional Trading of Lyft

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in shares of Lyft during the third quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lyft during the fourth quarter valued at $29,000. ORG Wealth Partners LLC bought a new position in shares of Lyft during the fourth quarter valued at $31,000. Plato Investment Management Ltd bought a new position in shares of Lyft during the fourth quarter valued at $35,000. Finally, Byrne Asset Management LLC bought a new position in shares of Lyft during the fourth quarter valued at $35,000. Institutional investors and hedge funds 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.