Lyft (NASDAQ:LYFT) Price Target Increased to $20.00 by Analysts at Barclays

Lyft (NASDAQ:LYFT) had its target price raised by analysts at Barclays from $17.00 to $20.00 in a report released on Wednesday, 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 15.61% from the company’s current price.

Several other analysts have also recently commented on the stock. Piper Sandler increased their price target on shares of Lyft from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on Lyft from $15.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, April 8th. BMO Capital Markets upped their price target on Lyft from $15.00 to $18.00 and gave the company a “market perform” rating in a research note on Wednesday. Royal Bank of Canada raised Lyft from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $17.00 to $23.00 in a report on Monday, March 4th. Finally, TD Cowen upped their target price on shares of Lyft from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.35.

Lyft Price Performance

Shares of LYFT traded up $0.70 during trading hours on Wednesday, hitting $17.30. The stock had a trading volume of 28,676,836 shares, compared to its average volume of 16,481,389. Lyft has a 52 week low of $7.85 and a 52 week high of $20.82. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of -19.58 and a beta of 2.05. The company’s fifty day moving average is $17.75 and its two-hundred day moving average is $14.58. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. Lyft had a negative return on equity of 54.80% and a negative net margin of 7.73%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. On average, analysts anticipate that Lyft will post -0.35 EPS for the current year.

Insider Buying and Selling

In related news, President Kristin Sverchek sold 3,500 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,698,084.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director John Patrick Zimmer sold 193,200 shares of Lyft stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.04, for a total value of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares in the company, valued at $18,688,181.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Kristin Sverchek sold 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was 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 of the company’s stock, valued at approximately $1,698,084.78. The disclosure for this sale can be found here. Insiders have 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Lyft by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 2,213 shares of the ride-sharing company’s stock valued at $43,000 after acquiring an additional 664 shares in the last quarter. Commerce Bank increased its position in shares of Lyft by 2.9% during the 4th quarter. Commerce Bank now owns 27,633 shares of the ride-sharing company’s stock worth $414,000 after purchasing an additional 782 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of 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 purchasing an additional 814 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in shares of Lyft by 277.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 1,000 shares during the last quarter. Finally, CWM LLC grew its stake in shares of 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 buying an additional 1,093 shares in the last quarter. 83.07% of the stock is 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.