Barclays Increases Lyft (NASDAQ:LYFT) Price Target to $20.00

Lyft (NASDAQ:LYFT) had its price target upped by equities research analysts at Barclays from $17.00 to $20.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the ride-sharing company’s stock. Barclays‘s price target indicates a potential upside of 16.01% from the stock’s previous close.

LYFT has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. UBS Group boosted their price target on Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Truist Financial upped their target price on Lyft from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday. Wells Fargo & Company upped 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. Finally, Argus upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.70.

Lyft Stock Performance

NASDAQ LYFT opened at $17.24 on Wednesday. Lyft has a fifty-two week low of $7.85 and a fifty-two week high of $20.82. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -36.68 and a beta of 2.05. The business has a fifty day moving average of $17.82 and a 200-day moving average of $14.62. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.22 billion. As a group, analysts predict that Lyft will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Lyft

In other news, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the sale, the president now owns 633,950 shares of the company’s stock, valued at $9,521,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Logan Green sold 11,867 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $15.69, for a total value of $186,193.23. Following the transaction, the director now owns 346,341 shares in the company, valued at $5,434,090.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Kristin Sverchek sold 5,670 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares in the company, valued at approximately $9,521,929. The disclosure for this sale can be found here. Insiders sold 280,526 shares of company stock valued at $5,358,031 over the last quarter. Company insiders own 3.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Lyft by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,488,609 shares of the ride-sharing company’s stock worth $36,770,000 after acquiring an additional 1,043,719 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Lyft by 21.3% in the third quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after acquiring an additional 778,563 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Lyft by 3.7% in the third quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock worth $331,562,000 after acquiring an additional 1,135,036 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Lyft during the third quarter valued at approximately $1,224,000. Finally, Canada Pension Plan Investment Board raised its stake in Lyft by 123.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,208,700 shares of the ride-sharing company’s stock valued at $12,740,000 after buying an additional 667,600 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.