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

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

A number of other brokerages have also recently issued reports on LYFT. UBS Group upped their target price on Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company reissued a “market perform” rating on shares of Lyft in a research report on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Loop Capital decreased their target price on Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, TD Cowen upped their price objective on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.48.

Lyft Trading Up 4.6 %

LYFT opened at $18.59 on Friday. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The stock has a market capitalization of $7.62 billion, a price-to-earnings 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. The business has a fifty day moving average price of $12.96 and a 200 day moving average price of $13.49.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) EPS. Sell-side analysts expect that Lyft will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.32, for a total value of $27,439.68. Following the transaction, the director now directly owns 929,638 shares in the company, valued at $10,523,502.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Logan Green sold 10,323 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now 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 worth $380,048. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

Several large investors have recently bought and sold shares of LYFT. Swiss National Bank increased its stake in Lyft by 2.0% in the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock valued at $13,218,000 after purchasing an additional 13,300 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Lyft in the first quarter valued at approximately $41,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Lyft by 430.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,886 shares of the ride-sharing company’s stock valued at $75,000 after purchasing an additional 3,154 shares in the last quarter. CWM LLC increased its stake in Lyft by 26.4% in the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Comerica Bank increased its stake in Lyft by 310.3% in the first quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company’s stock valued at $1,985,000 after purchasing an additional 77,578 shares in the last quarter. 83.07% of the stock is currently 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.