Barclays Trims Lyft (NASDAQ:LYFT) Target Price to $18.00

Lyft (NASDAQ:LYFT – Get Rating) had its target price reduced by Barclays from $20.00 to $18.00 in a research report report published on Tuesday morning, The Fly reports. Barclays currently has an equal weight rating on the ride-sharing company’s stock.

Several other brokerages have also issued reports on LYFT. Tigress Financial decreased their price target on shares of Lyft from $82.00 to $60.00 and set a buy rating for the company in a research note on Friday, August 12th. UBS Group decreased their price target on shares of Lyft from $16.00 to $12.00 and set a neutral rating for the company in a research note on Tuesday. Atlantic Securities decreased their price target on shares of Lyft to $24.00 in a research note on Tuesday, August 9th. JPMorgan Chase & Co. decreased their price target on shares of Lyft from $36.00 to $29.00 and set an overweight rating for the company in a research note on Tuesday. Finally, Guggenheim decreased their price target on shares of Lyft from $32.00 to $28.00 and set a buy rating for the company in a research note on Monday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $29.13.

Lyft Price Performance

Lyft stock opened at $12.70 on Tuesday. Lyft has a 52 week low of $10.60 and a 52 week high of $53.59. The company’s 50 day moving average price is $14.13 and its two-hundred day moving average price is $16.14. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.43 billion, a P/E ratio of -3.55 and a beta of 1.68.

Institutional Inflows and Outflows

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A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Lyft by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 25,428,704 shares of the ride-sharing company’s stock valued at $976,462,000 after purchasing an additional 483,630 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Lyft by 6,332.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,725,173 shares of the ride-sharing company’s stock worth $154,421,000 after acquiring an additional 11,542,904 shares during the last quarter. Clearbridge Investments LLC lifted its holdings 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 acquiring an additional 2,050,430 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Lyft by 25.9% during the 1st quarter. American Century Companies Inc. now owns 6,068,020 shares of the ride-sharing company’s stock worth $233,012,000 after acquiring an additional 1,249,383 shares during the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Lyft during the 2nd quarter worth $34,868,000. 76.49% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Company Profile

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Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.