Lyft (NASDAQ:LYFT) Given New $20.00 Price Target at Barclays

Lyft (NASDAQ:LYFT) had its price target hoisted by Barclays from $17.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the ride-sharing company’s stock.

Several other equities research analysts have also recently issued reports on LYFT. TD Cowen raised their price target on shares of Lyft from $14.00 to $16.00 and gave the stock a hold rating in a research note on Wednesday. The Goldman Sachs Group cut Lyft from a buy rating to a neutral rating and raised their price objective for the stock from $12.00 to $15.00 in a report on Thursday, January 11th. Tigress Financial increased their target price on Lyft from $22.00 to $24.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Truist Financial raised their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a hold rating in a research report on Wednesday. Finally, UBS Group increased their price target on shares of Lyft from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $16.70.

Lyft Price Performance

NASDAQ:LYFT traded down $0.54 during mid-day trading on Wednesday, hitting $17.24. 12,924,053 shares of the company’s stock traded hands, compared to its average volume of 16,567,121. The firm’s 50 day simple moving average is $17.82 and its 200 day simple moving average is $14.62. The company has a market cap of $6.89 billion, a PE ratio of -36.68 and a beta of 2.05. Lyft has a 1 year low of $7.85 and a 1 year high of $20.82. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates 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 expect that Lyft will post -0.35 EPS for the current year.

Insider Buying and Selling at Lyft

In other news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total transaction of $85,163.40. Following the sale, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John Patrick Zimmer sold 193,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.04, for a total value of $3,871,728.00. Following the completion of the transaction, the director now directly owns 932,544 shares of the company’s stock, valued at approximately $18,688,181.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the sale, the president now directly owns 633,950 shares in the company, valued at approximately $9,521,929. The disclosure for this sale can be found here. Insiders sold a total of 280,526 shares of company stock worth $5,358,031 over the last ninety days. Company insiders own 3.16% of the company’s stock.

Institutional Investors Weigh In On Lyft

Several hedge funds and other institutional investors have recently bought and sold shares of LYFT. Norges Bank acquired a new position in shares of Lyft in the 4th quarter worth $94,687,000. Kodai Capital Management LP acquired a new position in shares of Lyft in the fourth quarter worth about $26,069,000. Bank of Nova Scotia acquired a new stake in shares of Lyft during the fourth quarter valued at approximately $21,433,000. Vanguard Group Inc. raised its stake in Lyft by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after purchasing an additional 1,135,036 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Lyft by 126.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after acquiring an additional 1,080,009 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

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.