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

Lyft (NASDAQ:LYFT) had its price objective raised by Barclays from $17.00 to $20.00 in a report released on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the ride-sharing company’s stock.

A number of other equities analysts also recently commented on the stock. Citigroup increased their price objective on shares of Lyft from $13.00 to $15.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Tigress Financial upped their target price on shares of Lyft from $22.00 to $24.00 and gave the company a buy rating in a report on Thursday, April 18th. JPMorgan Chase & Co. boosted their price target on Lyft from $11.00 to $13.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Moffett Nathanson upgraded Lyft from a sell rating to a neutral rating in a research note on Wednesday, February 14th. Finally, Argus upgraded Lyft from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Lyft presently has an average rating of Hold and a consensus price target of $16.70.

Lyft Stock Down 3.0 %

Shares of Lyft stock traded down $0.54 during trading on Wednesday, reaching $17.24. The stock had a trading volume of 12,924,053 shares, compared to its average volume of 16,567,121. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of -36.68 and a beta of 2.05. Lyft has a 52 week low of $7.85 and a 52 week high of $20.82. The stock has a fifty day moving average price of $17.82 and a two-hundred day moving average price of $14.62.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. Sell-side analysts predict that Lyft will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Kristin Sverchek sold 3,500 shares of Lyft stock in a transaction on Monday, March 4th. The shares were sold at an average price of $17.51, for a total transaction of $61,285.00. Following the transaction, the president now owns 96,978 shares in the company, valued at $1,698,084.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John Patrick Zimmer sold 15,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total transaction of $275,327.24. Following the completion of the sale, the director now owns 1,204,071 shares of the company’s stock, valued at $21,083,283.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $17.51, for a total value of $61,285.00. Following the completion of the transaction, the president now directly owns 96,978 shares in the company, valued at $1,698,084.78. The disclosure for this sale can be found here. Insiders have sold 280,526 shares of company stock worth $5,358,031 in the last 90 days. Insiders own 3.16% of the company’s stock.

Institutional Trading of Lyft

Several large investors have recently modified their holdings of LYFT. GAMMA Investing LLC boosted its stake in Lyft by 42.9% during the first quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock worth $43,000 after acquiring an additional 664 shares in the last quarter. Commerce Bank grew its stake in shares of Lyft by 2.9% in the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock valued at $414,000 after buying an additional 782 shares during the period. Creative Financial Designs Inc. ADV raised its stake in Lyft by 21.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,556 shares of the ride-sharing company’s stock worth $68,000 after buying an additional 814 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Finally, CWM LLC grew its stake in Lyft by 15.4% in the fourth quarter. CWM LLC now owns 8,190 shares of the ride-sharing company’s stock valued at $123,000 after acquiring an additional 1,093 shares during the period. 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.