Lyft (NASDAQ:LYFT) Given New $27.00 Price Target at Barclays

Lyft (NASDAQ:LYFT) had its target price lifted by Barclays from $20.00 to $27.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the ride-sharing company’s stock.

A number of other brokerages have also recently issued reports on LYFT. Cowen reiterated a “buy” rating on shares of Lyft in a research note on Thursday. Susquehanna lifted their target price on shares of Lyft from $14.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank Of Canada upped their target price on shares of Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group raised their price target on shares of Lyft from $11.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, September 18th. Finally, Wedbush boosted their price objective on shares of Lyft from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.55.

Lyft Stock Up 3.7%

LYFT stock traded up $0.79 on Friday, reaching $22.04. 21,590,512 shares of the company traded hands, compared to its average volume of 15,815,194. The firm has a fifty day simple moving average of $20.29 and a 200-day simple moving average of $16.82. The company has a market cap of $8.96 billion, a P/E ratio of 58.00, a price-to-earnings-growth ratio of 3.72 and a beta of 2.36. Lyft has a one year low of $9.66 and a one year high of $23.50. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.72 and a quick ratio of 0.70.

Lyft (NASDAQ:LYFT) last released its earnings results 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). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $0.29 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Lyft will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 14,606 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the sale, the insider directly owned 835,782 shares in the company, valued at $16,715,640. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $258,600.00. Following the completion of the transaction, the chief financial officer directly owned 525,759 shares in the company, valued at approximately $9,064,085.16. The trade was a 2.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 74,427 shares of company stock valued at $1,252,686 over the last 90 days. Company insiders own 3.07% of the company’s stock.

Institutional Trading of Lyft

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Lyft in the 2nd quarter worth $32,000. GAMMA Investing LLC raised its holdings in Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after purchasing an additional 1,237 shares during the period. Bogart Wealth LLC lifted its position in Lyft by 1,242.2% during the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in Lyft during the third quarter valued at about $34,000. 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.