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

Lyft (NASDAQ:LYFT) had its price target lifted by stock analysts at Barclays from $17.00 to $20.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the ride-sharing company’s stock. Barclays‘s target price points to a potential upside of 15.61% from the company’s previous close.

LYFT has been the subject of a number of other research reports. UBS Group upped their target price on Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Sanford C. Bernstein boosted their price objective on shares of Lyft from $15.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday. TD Cowen lifted their target price on shares of Lyft from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday. Moffett Nathanson upgraded shares of Lyft from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 14th. Finally, Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.35.

Lyft Trading Up 4.2 %

Lyft stock traded up $0.70 during trading hours on Wednesday, reaching $17.30. The stock had a trading volume of 28,676,836 shares, compared to its average volume of 16,481,389. The company has a fifty day simple moving average of $17.75 and a 200-day simple moving average of $14.58. Lyft has a 52 week low of $7.85 and a 52 week high of $20.82. The stock has a market cap of $6.92 billion, a PE ratio of -19.58 and a beta of 2.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87.

Lyft (NASDAQ:LYFT) last posted its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.22 billion. Analysts forecast that Lyft will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 directly owns 633,950 shares in the company, valued at $9,521,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lyft news, Director John Patrick Zimmer sold 15,724 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the transaction, the director now directly owns 1,204,071 shares of the company’s stock, valued at $21,083,283.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kristin Sverchek sold 5,670 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the sale, the president now directly owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,526 shares of company stock valued at $5,358,031. 3.16% of the stock is owned by insiders.

Institutional Trading of Lyft

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Lyft during the 4th quarter valued at $94,687,000. Kodai Capital Management LP purchased a new position in Lyft during the fourth quarter valued at $26,069,000. Bank of Nova Scotia bought a new stake in Lyft during the fourth quarter valued at about $21,433,000. Vanguard Group Inc. increased its position in 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 buying an additional 1,135,036 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Lyft by 126.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,937,357 shares of the ride-sharing company’s stock worth $29,041,000 after buying an additional 1,080,009 shares during the period. 83.07% of the stock is currently owned by institutional investors.

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.