Barclays Issues Positive Forecast for Lyft (NASDAQ:LYFT) Stock Price

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

A number of other equities research analysts also recently weighed in on LYFT. JPMorgan Chase & Co. dropped their price objective on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Melius Research assumed coverage on Lyft in a research note on Monday, July 22nd. They issued a “hold” rating and a $15.00 price target for the company. UBS Group increased their price target on Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their price target on Lyft from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, DA Davidson increased their price target on Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft has an average rating of “Hold” and a consensus price target of $17.48.

Lyft Price Performance

Shares of LYFT stock opened at $18.59 on Friday. Lyft has a 1-year low of $8.93 and a 1-year high of $20.82. The stock’s 50-day moving average is $12.96 and its 200 day moving average is $13.49. The company has a market cap of $7.62 billion, a P/E ratio of -116.19 and a beta of 2.04. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. Research analysts predict that Lyft will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft 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 sale, the director now directly owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft 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 sale, the director now directly owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Logan Green sold 10,323 shares of Lyft 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 completion of the sale, the director now directly owns 330,790 shares in the company, valued at $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,664 shares of company stock valued at $380,048. Company insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

A number of institutional investors have recently made changes to their positions in LYFT. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lyft in the first quarter worth approximately $41,000. Janney Montgomery Scott LLC lifted its position in Lyft by 48.0% during the first quarter. Janney Montgomery Scott LLC now owns 78,609 shares of the ride-sharing company’s stock worth $1,521,000 after buying an additional 25,500 shares in the last quarter. Empowered Funds LLC lifted its position in Lyft by 24.4% during the first quarter. Empowered Funds LLC now owns 16,557 shares of the ride-sharing company’s stock worth $320,000 after buying an additional 3,247 shares in the last quarter. SG Americas Securities LLC purchased a new position in Lyft during the first quarter worth approximately $1,262,000. Finally, Swiss National Bank lifted its position in Lyft by 2.0% during the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after buying an additional 13,300 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

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.