Barclays Increases Lyft (NASDAQ:LYFT) Price Target to $20.00

Lyft (NASDAQ:LYFT) had its target price hoisted by equities researchers at Barclays from $14.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the ride-sharing company’s stock. Barclays‘s target price would indicate a potential upside of 13.44% from the company’s previous close.

Several other research firms have also weighed in on LYFT. Benchmark restated a “hold” rating on shares of Lyft in a report on Thursday. Melius began coverage on Lyft in a report on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price for the company. TD Cowen increased their price target on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday. Raymond James started coverage on shares of Lyft in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Finally, Loop Capital lowered their target price on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Twenty-eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.23.

Lyft Stock Down 0.3 %

NASDAQ:LYFT traded down $0.06 during mid-day trading on Friday, reaching $17.63. The stock had a trading volume of 15,765,524 shares, compared to its average volume of 15,061,525. The stock has a market cap of $7.23 billion, a P/E ratio of -110.81 and a beta of 2.04. The business’s 50 day moving average is $12.71 and its 200 day moving average is $13.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. Lyft’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) EPS. As a group, sell-side analysts predict that Lyft will post -0.06 earnings per share for the current year.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $11.40, for a total transaction of $81,943.20. Following the sale, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total value of $99,795.36. Following the completion of the sale, the insider now owns 764,332 shares in the company, valued at approximately $8,988,544.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $11.40, for a total transaction of $81,943.20. Following the completion of the transaction, the director now directly owns 932,062 shares of the company’s stock, valued at approximately $10,625,506.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock valued at $380,048 in the last ninety days. Insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Swiss National Bank raised its position in shares of Lyft by 2.0% during the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after acquiring an additional 13,300 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Lyft during the 1st quarter valued at about $41,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Lyft by 430.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock valued at $75,000 after purchasing an additional 3,154 shares during the last quarter. CWM LLC boosted its stake in shares of Lyft by 26.4% in the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after purchasing an additional 1,457 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Lyft by 310.3% during the first quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock worth $1,985,000 after buying an additional 77,578 shares during the last quarter. 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.