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

Lyft (NASDAQ:LYFT) had its price objective hoisted by investment analysts at Barclays from $14.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the ride-sharing company’s stock. Barclays‘s price objective would indicate a potential upside of 12.49% from the stock’s previous close.

A number of other research firms have also recently issued reports on LYFT. Canaccord Genuity Group upped their price objective on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna dropped their price target on Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Citigroup reduced their price objective on Lyft from $18.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. DA Davidson upped their target price on Lyft from $11.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Twenty-eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lyft presently has an average rating of “Hold” and an average target price of $17.23.

Lyft Trading Up 0.5 %

Shares of LYFT stock opened at $17.78 on Friday. Lyft has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The stock’s fifty day moving average price is $12.96 and its two-hundred day moving average price is $13.54. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $7.29 billion, a PE ratio of -111.13 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. The business’s quarterly revenue was up 40.6% on a year-over-year basis. Equities analysts predict that Lyft will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now owns 929,638 shares in the company, valued at $10,523,502.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total value of $119,953.26. Following the transaction, the director now owns 330,790 shares in the company, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,664 shares of company stock worth $380,048. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYFT. International Assets Investment Management LLC bought a new position in Lyft in the 2nd quarter worth approximately $35,000. Brown Brothers Harriman & Co. bought a new position in shares of Lyft in the second quarter worth $35,000. Capital Performance Advisors LLP purchased a new position in shares of Lyft in the third quarter valued at $38,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Lyft during the 1st quarter valued at $41,000. Finally, Quarry LP lifted its holdings in Lyft by 4,032.6% during the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after purchasing an additional 3,468 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.