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LYFT

Lyft

$71.31

1.59 (2.28%)

10:00
04/04/19
04/04
10:00
04/04/19
10:00

Far upside calls seeing interest on the Lyft's first day of options trading

Far upside calls seeing interest on the Lyft's first day of options trading. Shares up 1.8% to $71.25 and May 100 calls trade in small lots from 30 to 35c. 1.2K trade and the contract, which is struck 40% above spot and expiring in 43 days, now trades 45c (mid-market with bid-ask 35 to 55c). The 3/29 post-IPO high is $88.60 per share.

LYFT Lyft
$71.31

1.59 (2.28%)

04/02/19
GHSC
04/02/19
INITIATION
Target $42
GHSC
Sell
Seaport Global starts Lyft with Sell rating, $42 price target
Seaport Global analyst Michael Ward initiated coverage of Lyft with a Sell rating and $42 price target. The shares closed yesterday down 12%, or $9.28, to $69.01. In order to justify the stock's current market valuation, investors need to "take a big leap of faith" that the millennials and later generations will forego ownership of a car and opt instead for reliance on a ridesharing service, Ward tells investors in a research note. However, "despite the optics of vehicles being an underutilized asset," the analyst believes people will continue to own their own vehicles as primary transportation. The ridesharing market will continue to grow and Lyft will be a prime competitor, but the company's current valuation levels "reflect an overly optimistic view of consumer behavior in the U.S," says Ward.
04/02/19
WEDB
04/02/19
NO CHANGE
Target $80
WEDB
Neutral
Wedbush says 'too early to be overreactive' as Lyft shares drop below IPO price
Wedbush analyst Daniel Ives notes that "in a stunner," Lyft shares dropped below its IPO price of $72 in its second day of trading. The analyst believes this is a "major gut check time" for Lyft and the tech IPO world to see how this stock trades given it was the first one out of the box. While Ives is bullish on the long-term opportunity for Lyft with robust growth prospects as the #2 player in a $1T transportation as a service market and the future of mobility, his concerns remain the vague path to profitability and the current valuation with no true public comps. While shares are off from the highs, he thinks it is too early to be overreactive and believes investors will support shares and be patient with the heavy losses as long as the key growth drivers are present as the company delivers robust results over the coming quarters. The analyst reiterates a Neutral rating and a $80 price target on the shares.
04/02/19
CRSS
04/02/19
INITIATION
CRSS
Buy
Lyft initiated with a Buy at Cross Research
Cross Research analyst Steven Fox initiated Lyft with a Buy
04/02/19
04/02/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with a Buy at Cross Research and a Sell at Seaport Global. 2. Dow Inc. (DOW) initiated with an Outperform at BMO Capital and Credit Suisse, an Overweight at Morgan Stanley, as well as a Buy at Deutsche Bank and BofA/Merrill. 3. Sonos (SONO) initiated with a Buy at DA Davidson. 4. Q2 Holdings (QTWO) initiated with an Outperform at William Blair. 5. Intuitive Surgical (ISRG) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

LPL

LG Display

$8.35

-1.14 (-12.02%)

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OXY

Occidental Petroleum

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-1.44 (-2.31%)

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$71.89

7.77 (12.12%)

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OXY

Occidental Petroleum

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APC

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CVX

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BA

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AT&T

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Viacom

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Silicon Labs

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EBAY

eBay

$38.25

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RES

RPC, Inc.

$11.10

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IRBT

iRobot

$103.20

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SNAP

Snap

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TDOC

Teladoc

$54.67

0.32 (0.59%)

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Humana

$249.01

0.71 (0.29%)

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Teladoc

$54.67

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Humana

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0.71 (0.29%)

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MPC

Marathon Petroleum

$60.06

-0.94 (-1.54%)

12:05
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Options
Marathon Petroleum call volume above normal and directionally bullish »

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UMC

UMC

$1.94

0.015 (0.78%)

12:04
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UMC rating change  »

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LRN

K12

$31.56

-4.665 (-12.88%)

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SPN

Superior Energy

$4.28

-0.685 (-13.80%)

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RES

RPC, Inc.

$11.04

-1.86 (-14.42%)

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SAP

SAP

$128.22

13.38 (11.65%)

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APC

Anadarko

$71.92

7.8 (12.16%)

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TRK

Speedway Motorsports

$18.50

4.52 (32.33%)

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Treasury Action: Fed funds futures are rallying alongside the surge in Treasuries »

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HMST

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$28.08

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PYPL

PayPal

$107.92

1.01 (0.94%)

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0.07 (0.04%)

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EBAY

eBay

$38.45

1.79 (4.88%)

JPM

JPMorgan

$113.45

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AMRN

Amarin

$18.32

-0.07 (-0.38%)

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Amarin call volume above normal and directionally bullish »

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Treasury's $20 B FRN auction was awarded at a high discount margin of 0.139% »

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LRN

K12

$31.11

-5.115 (-14.12%)

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TSLA

Tesla

$262.87

-0.98 (-0.37%)

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Samsung

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Tesla

$262.87

-0.98 (-0.37%)

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Samsung

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CAT

Caterpillar

$138.82

-3.26 (-2.29%)

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Breaking Hot Stocks news story on Caterpillar »

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GWW

Grainger

$292.75

-0.46 (-0.16%)

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Grainger authorizes repurchase of additional 5M shares »

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BKU

BankUnited

$35.97

0.24 (0.67%)

11:36
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BankUnited rating change at Sandler ONeill »

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GWW

Grainger

$292.73

-0.48 (-0.16%)

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Grainger raises dividend by 6% to $1.44 per share »

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BBY

Best Buy

$75.08

1.48 (2.01%)

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Procter & Gamble

$104.47

1.28 (1.24%)

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BBY

Best Buy

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PG

Procter & Gamble

$104.47

1.28 (1.24%)

SNAP

Snap

$11.20

-0.79 (-6.59%)

KHC

Kraft Heinz

$32.73

-0.365 (-1.10%)

AAPL

Apple

$208.23

0.73 (0.35%)

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TEVA

Teva

$14.98

0.07 (0.47%)

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Mylan

$26.47

-0.13 (-0.49%)

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TEVA

Teva

$14.98

0.07 (0.47%)

MYL

Mylan

$26.47

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NVS

Novartis

$78.35

2.51 (3.31%)

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YPF

YPF

$14.54

-0.35 (-2.35%)

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YPF put volume heavy and directionally bearish »

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