Lyft (NASDAQ:LYFT) Given New $19.00 Price Target at Barclays

Lyft (NASDAQ:LYFT - Free Report) had its price target lowered by Barclays from $20.00 to $19.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the ride-sharing company's stock.

Several other analysts have also weighed in on the company. BMO Capital Markets upped their price objective on Lyft from $13.00 to $18.00 and gave the company a "market perform" rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their price objective on Lyft from $18.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. TD Cowen upped their price objective on Lyft from $16.00 to $18.00 and gave the company a "hold" rating in a report on Thursday, November 7th. Evercore ISI upped their target price on Lyft from $17.00 to $19.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Finally, Roth Mkm upped their target price on Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.22.

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Lyft Stock Performance

Shares of NASDAQ:LYFT traded down $0.04 on Wednesday, hitting $13.43. The company's stock had a trading volume of 22,272,233 shares, compared to its average volume of 13,646,594. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of -83.94, a price-to-earnings-growth ratio of 1.94 and a beta of 2.16. The stock's 50-day moving average is $13.83 and its two-hundred day moving average is $13.53. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. On average, equities research analysts forecast that Lyft will post 0.06 EPS for the current year.

Lyft declared that its Board of Directors has approved a share buyback plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.07% of the stock is currently owned by insiders.

Institutional Trading of Lyft

Hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new stake in Lyft during the 3rd quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lyft during the 4th quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new stake in Lyft during the 4th quarter valued at approximately $31,000. Plato Investment Management Ltd bought a new stake in Lyft during the 4th quarter valued at approximately $35,000. Finally, Byrne Asset Management LLC bought a new stake in Lyft during the 4th quarter valued at approximately $35,000. Institutional investors own 83.07% of the company's stock.

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.