Lyft (NASDAQ:LYFT – Get Free Report) had its price target upped by equities research analysts at Barclays from $14.00 to $17.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the ride-sharing company’s stock. Barclays’s price target would indicate a potential upside of 3.72% from the stock’s previous close.
A number of other analysts also recently issued reports on the company. UBS Group lifted their price target on Lyft from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial boosted their target price on Lyft from $13.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Lyft from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group downgraded Lyft from a “buy” rating to a “neutral” rating and boosted their target price for the company from $12.00 to $15.00 in a report on Thursday, January 11th. Finally, TD Cowen boosted their target price on Lyft from $10.00 to $12.00 and gave the company a “market perform” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.67.
Lyft Stock Up 35.1 %
Shares of NASDAQ LYFT opened at $16.39 on Thursday. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of -6.66 and a beta of 1.90. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $13.65 and a two-hundred day moving average of $11.81. Lyft has a 1 year low of $7.85 and a 1 year high of $16.77.
Insider Transactions at Lyft
In other news, CFO Erin Brewer sold 22,354 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $12.70, for a total transaction of $283,895.80. Following the sale, the chief financial officer now owns 1,906,812 shares of the company’s stock, valued at approximately $24,216,512.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Erin Brewer sold 22,354 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $12.70, for a total transaction of $283,895.80. Following the sale, the chief financial officer now owns 1,906,812 shares of the company’s stock, valued at approximately $24,216,512.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 18,255 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $10.33, for a total value of $188,574.15. Following the sale, the director now directly owns 1,416,322 shares in the company, valued at approximately $14,630,606.26. The disclosure for this sale can be found here. Insiders have sold 287,972 shares of company stock valued at $4,128,245 in the last quarter. 3.16% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Lyft
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Lyft by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after buying an additional 1,135,036 shares in the last quarter. Norges Bank purchased a new position in shares of Lyft during the 4th quarter worth $73,660,000. Clearbridge Investments LLC lifted its stake in shares of Lyft by 46.4% during the 1st quarter. Clearbridge Investments LLC now owns 6,470,972 shares of the ride-sharing company’s stock worth $248,485,000 after purchasing an additional 2,050,430 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Lyft by 5.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after purchasing an additional 300,982 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Lyft by 29.1% during the 3rd quarter. Morgan Stanley now owns 5,616,086 shares of the ride-sharing company’s stock worth $59,194,000 after purchasing an additional 1,267,124 shares during the period. Hedge funds and other institutional investors own 71.63% 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. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.