Lyft (NASDAQ:LYFT) Stock Price Expected to Rise, Barclays Analyst Says

Lyft (NASDAQ:LYFT) had its price target hoisted by Barclays from $20.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the ride-sharing company’s stock. Barclays‘s price objective indicates a potential upside of 28.36% from the company’s current price.

LYFT has been the subject of several other reports. Guggenheim raised Lyft to a “strong-buy” rating in a research note on Wednesday, October 15th. Sanford C. Bernstein reiterated a “market perform” rating and set a $22.00 price objective on shares of Lyft in a research note on Tuesday, October 21st. Morgan Stanley boosted their price objective on Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Wall Street Zen downgraded shares of Lyft from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Oppenheimer set a $26.00 target price on shares of Lyft and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lyft has a consensus rating of “Hold” and an average price target of $22.22.

Lyft Trading Down 1.0%

Lyft stock traded down $0.22 during trading hours on Friday, reaching $21.03. The company had a trading volume of 6,683,296 shares, compared to its average volume of 18,668,648. The company has a 50-day moving average price of $20.17 and a 200 day moving average price of $16.74. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 55.35, a P/E/G ratio of 3.51 and a beta of 2.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. Lyft has a 12-month low of $9.66 and a 12-month high of $23.50.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Lyft had a return on equity of 17.08% and a net margin of 2.40%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. Equities analysts forecast that Lyft will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Lyft

In related news, CEO John David Risher purchased 5,926 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of $16.88 per share, with a total value of $100,030.88. Following the completion of the transaction, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider owned 850,388 shares in the company, valued at $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 74,427 shares of company stock valued at $1,252,686 in the last three months. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently modified their holdings of LYFT. Vanguard Group Inc. increased its position in Lyft by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock worth $451,645,000 after buying an additional 2,046,639 shares during the period. Ameriprise Financial Inc. raised its stake in Lyft by 26.3% during the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after acquiring an additional 5,178,118 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Lyft by 144.9% in the second quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company’s stock valued at $378,396,000 after acquiring an additional 14,205,143 shares during the last quarter. Rakuten Group Inc. bought a new stake in Lyft during the 1st quarter worth about $130,434,000. Finally, Geode Capital Management LLC lifted its holdings in Lyft by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after buying an additional 20,354 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.