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

Lyft (NASDAQ:LYFT - Free Report) had its price target increased by Barclays from $14.00 to $20.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the ride-sharing company's stock.

LYFT has been the topic of several other research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research report on Thursday. Susquehanna decreased their price target on Lyft from $18.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Wells Fargo & Company reiterated a "market perform" rating on shares of Lyft in a research note on Friday, October 18th. Melius Research initiated coverage on shares of Lyft in a report on Monday, July 22nd. They set a "hold" rating and a $15.00 price target on the stock. Finally, Wedbush restated a "neutral" rating and issued a $20.00 target price (up previously from $12.00) on shares of Lyft in a research note on Thursday. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $17.23.

Lyft Stock Up 0.5 %

NASDAQ:LYFT traded up $0.09 on Friday, hitting $17.78. The stock had a trading volume of 28,925,410 shares, compared to its average volume of 13,179,118. The company has a market cap of $7.29 billion, a PE ratio of -111.13 and a beta of 2.04. Lyft has a 52 week low of $8.93 and a 52 week high of $20.82. The business's fifty day moving average is $12.96 and its 200 day moving average is $13.54. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.67%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business posted ($0.14) EPS. Lyft's quarterly revenue was up 40.6% on a year-over-year basis. On average, equities research analysts expect that Lyft will post -0.06 EPS for the current fiscal year.

Insider Activity at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $10,523,502.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total value of $50,916.00. Following the completion of the transaction, the insider now owns 760,089 shares in the company, valued at $9,121,068. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,664 shares of company stock worth $380,048 over the last quarter. 3.07% of the stock is owned by corporate insiders.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank increased its stake in shares of Lyft by 2.0% during 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 purchased a new stake in shares of Lyft in the first quarter worth $41,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Lyft by 430.9% during 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 acquiring an additional 3,154 shares in the last quarter. CWM LLC raised its position in shares of Lyft by 26.4% in the 2nd quarter. CWM LLC now owns 6,968 shares of the ride-sharing company's stock worth $98,000 after purchasing an additional 1,457 shares during the last quarter. Finally, Comerica Bank boosted its stake in Lyft by 310.3% in the 1st quarter. Comerica Bank now owns 102,576 shares of the ride-sharing company's stock worth $1,985,000 after purchasing an additional 77,578 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other 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.