LYFT (LYFT) Shares Up 7%

LYFT Inc (NASDAQ:LYFT)’s share price shot up 7% during mid-day trading on Wednesday . The stock traded as high as $54.85 and last traded at $54.04. 7,720,648 shares were traded during trading, a decline of 34% from the average session volume of 11,657,672 shares. The stock had previously closed at $50.52.

Several brokerages recently issued reports on LYFT. DA Davidson set a $72.00 price target on LYFT and gave the company a “buy” rating in a research note on Tuesday. Seaport Global Securities lowered their price target on LYFT from $42.00 to $35.00 and set a “sell” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on LYFT from $82.00 to $86.00 in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price target on LYFT from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Wedbush restated a “hold” rating and set a $67.00 price target on shares of LYFT in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. LYFT presently has an average rating of “Buy” and a consensus target price of $71.51.

In related news, Director R. Ann Miura-Ko acquired 1,650 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $72.00 per share, with a total value of $118,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.



A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Calamos Advisors LLC purchased a new stake in shares of LYFT in the first quarter valued at $1,174,000. Virtu Financial LLC purchased a new stake in shares of LYFT in the first quarter valued at $385,000. FNY Investment Advisers LLC purchased a new stake in shares of LYFT in the first quarter valued at $700,000. Columbus Circle Investors acquired a new position in LYFT in the first quarter valued at $20,523,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in LYFT in the first quarter valued at $414,000. 1.66% of the stock is currently owned by institutional investors.

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About LYFT (NASDAQ:LYFT)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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