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LYFT

Lyft

$59.38

-0.92 (-1.53%)

, GOOG

Alphabet

$1,174.87

-5.97 (-0.51%)

16:45
05/07/19
05/07
16:45
05/07/19
16:45

Lyft to offer rides from Waymo self-driving cars in Phoenix, WSJ reports

Lyft's (LYFT) ride-hailing app will soon begin offering rides from self-driving cars operated by Alphabet's (GOOG, GOOGL) Waymo in suburban Phoenix, Tim Higgins of Wall Street Journal reports. Waymo will initially deploy 10 vehicles with safety operators behind the wheel through the Lyft app in the next few months, Higgins added. Terms of the partnership weren't disclosed.Reference Link

LYFT

Lyft

$59.38

-0.92 (-1.53%)

GOOG

Alphabet

$1,174.87

-5.97 (-0.51%)

GOOGL

Alphabet Class A

$1,179.43

-5.68 (-0.48%)

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LYFT Lyft
$59.38

-0.92 (-1.53%)

05/03/19
05/03/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with an Underweight at Atlantic Equities. 2. Contura Energy (CTRA) initiated with a Buy at Seaport Global. 3. Uber (UBER) initiated with a Neutral at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/03/19
ATLE
05/03/19
INITIATION
Target $55
ATLE
Neutral
Atlantic starts Uber with Neutral rating despite preferring over Lyft
Atlantic Equities analyst James Cordwell initiated coverage of Uber (UBER) with a Neutral rating and $55 price target ahead of the company's initial public offering. The analyst this morning also initiated coverage of Lyft (LYFT) with an Underweight rating and $50 price target. Transportation-as-a-service addresses a large market opportunity, says the analyst, whose analysis shows that scale enables superior returns and a clearer path to profitability. Given the benefits of scale, Cordwell prefers Uber to Lyft, due to the company's "market-leading ridehailing position augmented by the fast-growing Eats business and freight brokerage opportunity." The analyst's year-end 2019 price target of $55 for Uber implies 0.9 times fiscal 2020 gross bookings, which he notes is similar to the historical average multiple of Amazon's (AMZN) e-commerce business.
05/03/19
ATLE
05/03/19
INITIATION
Target $50
ATLE
Underweight
Lyft initiated with an Underweight at Atlantic Equities
Atlantic Equities analyst James Cordwell initiated Lyft (LYFT) with an Underweight rating and $50 price target. In a research note to investors, Cordwell, who also initiated Uber (UBER) with a Neutral rating, says he prefers Uber over Lyft, as U.S. share losses and deteriorating unit economics leave him unable to be constructive on Lyft currently, especially given ongoing capital inflows into the sector will likely ensure competition remains intense.
05/03/19
COWN
05/03/19
NO CHANGE
Target $77
COWN
Outperform
Cowen sees strong results coming from Lyft in first public report
Cowen analyst John Blackledge said he expects "strong results" from Lyft in its first earnings report since coming public, which is due on next Tuesday, May 7. He forecasts active riders to have increased 40% year-over-year to 19.7M and sees revenue at $745M, which would be up 88% year-over-year compared to the 94% growth rate from the company's fourth quarter. Blackledge forecasts an adjusted EBITDA loss of $243.4M, which compares to a consensus estimate of a loss of $282.4M. He maintains an Outperform rating and $77 price target on Lyft shares.
GOOG Alphabet
$1,174.87

-5.97 (-0.51%)

04/30/19
04/30/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying Alphabet revenue growth in last night's Q1 results dropped below 20% for the first time since Q2 of 2015. 2. Bank of America (BAC) downgraded to Neutral from Overweight at Atlantic Equities. 3. Trade Desk (TTD) downgraded to Market Perform from Outperform at JMP Securities with analyst Ronald Josey saying he believes shares are currently fairly valued given the company's growth and opportunities in mobile and Connected TV. 4. ADP (ADP) downgraded to Market Perform from Outperform at Bernstein while Paychex (PAYX) was downgraded to Underperform from Market Perform. 5. Trex Company (TREX) downgraded to Neutral from Buy at B. Riley FBR with analyst Alex Rygiel citing near-term profit margin pressures. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/30/19
OPCO
04/30/19
NO CHANGE
Target $1342
OPCO
Outperform
Alphabet price target lowered to $1,342 from $1,435 at Oppenheimer
Oppenheimer analyst Jason Helfstein lowered his price target for Alphabet to $1,342 from $1,435 following quarterly results, while reiterating an Outperform rating on the shares. Despite weaker ad results and lower core margins year over year, the analyst notes that Alphabet is a "cash cow," dominating search, and compounding its core business, with numerous new initiatives at just 11-times 2020 EBITDA and 21-times free cash flow.
04/30/19
MSCO
04/30/19
NO CHANGE
Target $1425
MSCO
Overweight
Alphabet price target lowered to $1,425 from $1,500 at Morgan Stanley
Morgan Stanley analyst Brian Nowak noted that this quarter was the first in the last 17 in which Alphabet's Websites revenue grew less than 20% ex-foreign exchange. While the company pointed to "the timing of product changes in ads" as a factor that drove the deceleration, it did not provide any clarity on what the changes were, whether the impact will be linear, or whether there are more such changes to come, noted Nowak, who sees the need for better transparency as key to long-term valuation at Alphabet. Following the quarterly report, he lowered his FY19 and FY20 EBITDA estimates by1% and 3%, respectively, and cut his price target on Alphabet shares to $1,425 from $1,500. Nowak keeps an Overweight rating on the stock.
04/30/19
DBAB
04/30/19
NO CHANGE
Target $1300
DBAB
Buy
Alphabet price target lowered to $1,300 from $1,385 at Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley lowered his price target for Alphabet to $1,300 from $1,385 saying maturation fears are rising after he company's revenue growth slowed in Q1. Alphabet reported "weak" results with Google Sites growth excluding currency ticking down by 4 percentage points, cost growth ahead of revenue growth, a "vocal commitment" to invest with less signal on discipline than last quarter's comments, and a continued focus on the low-margin hardware space which is struggling with sales declines in the flagship product, Walmsley tells investors in a post-earnings research note. He also thinks management did a poor job explaining the slowdown. The analyst, despite lowering his estimates, keeps a Buy rating on Alphabet. He thinks the stock's valuation is attractive on a long-term basis.
GOOGL Alphabet Class A
$1,179.43

-5.68 (-0.48%)

04/30/19
FBCO
04/30/19
NO CHANGE
Target $1400
FBCO
Outperform
Credit Suisse remains a buyer of Alphabet following quarterly results
Credit Suisse analyst Stephen Ju says that despite incremental signs of free cash flow beginning to grow again, as well as ongoing moderation of core segment operating margin compression, he expects FX-neutral revenue growth deceleration to 19% year over year to weigh on Alphabet shares. As the benefits from the investments Google continues to incur toward generating new streams of revenue are nontransparent, Ju suspects that from a tactical perspective the bear argument that it needs to spend to maintain growth in its current businesses will get louder. That said, the analyst notes that while the Street has implicitly modeled the costs around the company's various longer duration products, revenue is not yet reflected, and hence he remains a buyer of the shares on that optionality. He reiterates an Outperform rating and $1,400 price target on the shares.
04/30/19
BMOC
04/30/19
NO CHANGE
Target $1150
BMOC
Market Perform
Alphabet price target lowered to $1,150 from $1,200 at BMO Capital
BMO Capital analyst Daniel Salmon lowered his price target on Alphabet (GOOGL) to $1,150 after its Q1 revenue missed expectations, ending the run of 10 of 11 quarters of top-line beats. The analyst says the company offered little color on slowing revenue outside of stating that the "timing of product changes in ads" impacted growth and warns that consensus earnings for the year have added risk. Salmon also keeps his Market Perform rating on Alphabet, stating that the Street may underestimate margin erosion from its negative revenue mix-shift while pointing to Amazon's (AMZN) rise of advertising business as a competitive threat.
05/01/19
DZBN
05/01/19
DOWNGRADE
DZBN
Hold
Alphabet downgraded to Hold from Buy at DZ Bank

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BAC

Bank of America

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Tesla

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08:55
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Notable open interest changes for May 22nd »

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AAPL

Apple

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Alibaba

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ISCA

International Speedway

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Ducommun

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AVP

Avon Products

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OncoSec 3.492M share Spot Secondary priced at $3.15 »

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PSTG

Pure Storage

$20.60

0.6 (3.00%)

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Pure Storage analyst commentary at Lake Street »

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URBN

Urban Outfitters

$27.01

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Urban Outfitters analyst commentary at MKM Partners »

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JPM

JPMorgan

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0.43 (0.39%)

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NVAX

Novavax

$6.26

0.21 (3.47%)

, AKRX

Akorn

$4.41

0.215 (5.13%)

08:45
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08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

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Novavax

$6.26

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Akorn

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UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

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AVP

Avon Products

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MAXR

Maxar Technologies

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JMIA

Jumia Technologies

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BP

BP

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BE

Bloom Energy

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CLGN

CollPlant

$5.10

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United Therapeutics

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0.85 (0.97%)

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CollPlant launches new HQ and R&D center in Israel »

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CollPlant

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UTHR

United Therapeutics

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Cowen to hold a summit »

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GLNG

Golar LNG

$20.46

1.38 (7.23%)

08:42
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First BanCorp

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Conference/Events
Sandler O'Neill to hold a field trip »

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Popular

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First BanCorp

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OFG Bancorp

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Evertec

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Ford

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08:40
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RBC Capital to hold a field trip »

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Qorvo

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Concho Resources

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PDC Energy

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REI

Ring Energy

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UPS

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Clean Energy

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OncoSec

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VNO

Vornado

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DY

Dycom

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11.38 (24.92%)

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AAPL

Apple

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Apple pledges clearer information on iPhone performance, CMA says »

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GDOT

Green Dot

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0.02 (0.04%)

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Green Dot enters $100M accelerated stock repurchase program »

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QCOM

Qualcomm

$77.78

1.17 (1.53%)

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