Barclays Lowers Lyft (NASDAQ:LYFT) Price Target to $14.00

Lyft (NASDAQ:LYFT) had its price target reduced by analysts at Barclays from $20.00 to $14.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the ride-sharing company’s stock. Barclays‘s target price indicates a potential upside of 41.41% from the company’s current price.

LYFT has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Wednesday. Melius Research initiated coverage on Lyft in a report on Monday, July 22nd. They issued a “hold” rating and a $15.00 target price on the stock. Morgan Stanley lifted their price target on Lyft from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, June 7th. Vertical Research raised Lyft to a “strong-buy” rating in a research report on Friday, June 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Lyft from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.53.

Lyft Stock Performance

Shares of LYFT stock traded up $0.82 during trading on Thursday, reaching $9.90. The company had a trading volume of 20,250,389 shares, compared to its average volume of 15,833,022. The company has a market capitalization of $3.99 billion, a PE ratio of -21.04 and a beta of 2.06. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50 day simple moving average is $13.37 and its two-hundred day simple moving average is $15.41. Lyft has a one year low of $8.85 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Lyft had a negative net margin of 3.94% and a negative return on equity of 23.77%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.17 billion. Sell-side analysts forecast that Lyft will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Lyft

In other news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.67, for a total transaction of $142,330.61. Following the sale, the chief accounting officer now owns 351,853 shares in the company, valued at $5,513,536.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lyft news, CAO Lisa Blackwood-Kapral sold 9,083 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.67, for a total value of $142,330.61. Following the completion of the transaction, the chief accounting officer now directly owns 351,853 shares of the company’s stock, valued at $5,513,536.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 7,923 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $16.54, for a total transaction of $131,046.42. Following the sale, the director now directly owns 924,621 shares in the company, valued at $15,293,231.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,333 shares of company stock worth $518,714. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lyft

A number of institutional investors and hedge funds have recently made changes to their positions in LYFT. Vanguard Group Inc. boosted its holdings in Lyft by 2.4% in the first quarter. Vanguard Group Inc. now owns 32,899,391 shares of the ride-sharing company’s stock valued at $636,603,000 after acquiring an additional 782,736 shares during the last quarter. Norges Bank acquired a new position in Lyft during the 4th quarter valued at about $94,687,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Lyft by 1.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 5,846,287 shares of the ride-sharing company’s stock valued at $113,126,000 after purchasing an additional 63,461 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Lyft by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock worth $54,420,000 after buying an additional 141,823 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Lyft by 39.5% during the second quarter. Bank of New York Mellon Corp now owns 2,870,599 shares of the ride-sharing company’s stock worth $40,475,000 after buying an additional 812,926 shares during the last quarter. 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.