Lyft (NASDAQ:LYFT) Price Target Raised to $20.00

Lyft (NASDAQ:LYFT) had its target price hoisted by Barclays from $14.00 to $20.00 in a report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the ride-sharing company’s stock.

LYFT has been the topic of several other reports. Bank of America upped their price target on Lyft from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday. Roth Mkm raised their price target on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday. Citigroup decreased their price target on shares of Lyft from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Melius initiated coverage on shares of Lyft in a report on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price on the stock. Finally, Raymond James initiated coverage on Lyft in a report on Tuesday, September 24th. They set a “market perform” rating for the company. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average target price of $17.23.

Lyft Stock Up 0.5 %

Shares of LYFT traded up $0.09 during midday trading on Friday, hitting $17.78. The company had a trading volume of 28,925,410 shares, compared to its average volume of 13,179,118. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of -111.13 and a beta of 2.04. The company’s 50 day moving average price is $12.96 and its 200 day moving average price is $13.54. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Lyft’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities research analysts predict that Lyft will post -0.06 EPS for the current year.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 7,188 shares of the business’s stock in a transaction on 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 $10,625,506.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Lyft news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the sale, the director now directly owns 330,790 shares in the company, valued at approximately $3,843,779.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $81,943.20. Following the completion of the transaction, the director now owns 932,062 shares in the company, valued at $10,625,506.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,664 shares of company stock worth $380,048. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LYFT. Price T Rowe Associates Inc. MD grew its holdings in shares of Lyft by 592.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,424,349 shares of the ride-sharing company’s stock valued at $27,562,000 after acquiring an additional 1,218,620 shares in the last quarter. National Bank of Canada FI grew its stake in Lyft by 27,739.2% in the second quarter. National Bank of Canada FI now owns 1,192,910 shares of the ride-sharing company’s stock valued at $16,665,000 after purchasing an additional 1,188,625 shares in the last quarter. Bank of New York Mellon Corp increased its position in Lyft by 39.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after purchasing an additional 812,926 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Lyft by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock worth $636,603,000 after purchasing an additional 782,736 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Lyft by 600.2% during the 1st quarter. Quadrature Capital Ltd now owns 608,430 shares of the ride-sharing company’s stock valued at $11,767,000 after buying an additional 521,537 shares during the last quarter. Institutional investors and hedge funds 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.