Barclays Issues Pessimistic Forecast for Lyft (NASDAQ:LYFT) Stock Price

Lyft (NASDAQ:LYFT) had its target price decreased by research analysts at Barclays from $20.00 to $19.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the ride-sharing company’s stock. Barclays‘s price objective suggests a potential upside of 41.05% from the company’s current price.

Several other equities analysts have also recently weighed in on LYFT. Jefferies Financial Group lifted their target price on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Tigress Financial lifted their target price on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America lifted their target price on Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Finally, UBS Group lowered their target price on Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Twenty-seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lyft has a consensus rating of “Hold” and an average target price of $17.22.

Lyft Price Performance

NASDAQ LYFT opened at $13.47 on Wednesday. The stock’s 50-day moving average price is $13.92 and its two-hundred day moving average price is $13.52. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a market cap of $5.59 billion, a PE ratio of -84.19, a PEG ratio of 1.94 and a beta of 2.16. Lyft has a 1 year low of $8.93 and a 1 year high of $20.82.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data 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, analysts predict that Lyft will post 0.06 EPS for the current year.

Lyft declared that its Board of Directors has approved a share repurchase program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Lyft

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LYFT. Sanctuary Advisors LLC bought a new position in Lyft in the second quarter worth $388,000. CWM LLC lifted its position in Lyft by 512.2% in the third quarter. CWM LLC now owns 42,656 shares of the ride-sharing company’s stock worth $544,000 after purchasing an additional 35,688 shares during the period. Wesbanco Bank Inc. bought a new position in Lyft in the third quarter worth $284,000. Vontobel Holding Ltd. lifted its position in Lyft by 21.7% in the third quarter. Vontobel Holding Ltd. now owns 47,181 shares of the ride-sharing company’s stock worth $602,000 after purchasing an additional 8,408 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Lyft by 2,103.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,765 shares of the ride-sharing company’s stock worth $252,000 after purchasing an additional 18,868 shares during the period. 83.07% of the stock is 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.