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

Lyft (NASDAQ:LYFT) had its price target cut by Barclays from $20.00 to $19.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the ride-sharing company’s stock.

A number of other equities analysts have also commented on the company. Roth Mkm lifted their price objective on Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets upped their price target on Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Wedbush lowered their price objective on shares of Lyft from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group cut their target price on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, January 6th. Twenty-six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.22.

Lyft Stock Down 0.3 %

Shares of LYFT stock opened at $13.43 on Wednesday. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of -83.94, a PEG ratio of 1.94 and a beta of 2.16. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50 day simple moving average is $13.88 and its 200 day simple moving average is $13.52. Lyft has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. As a group, research analysts predict that Lyft will post 0.06 EPS for the current year.

Lyft announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lyft

A number of hedge funds have recently modified their holdings of the business. True Wealth Design LLC acquired a new stake in Lyft during the 3rd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft during the fourth quarter worth $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Lyft during the fourth quarter worth $31,000. Byrne Asset Management LLC bought a new stake in Lyft in the 4th quarter valued at $35,000. Finally, Plato Investment Management Ltd bought a new position in Lyft during the 4th quarter worth about $35,000. Institutional investors and hedge funds 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.