LYFT (NASDAQ:LYFT) PT Raised to $84.00

LYFT (NASDAQ:LYFT) had its price target hoisted by Cowen from $78.00 to $84.00 in a research note issued to investors on Thursday morning, The Fly reports. Cowen currently has an outperform rating on the ride-sharing company’s stock.

A number of other equities research analysts have also commented on LYFT. Credit Suisse Group started coverage on shares of LYFT in a report on Tuesday, April 23rd. They set an outperform rating and a $95.00 price objective on the stock. Royal Bank of Canada started coverage on shares of LYFT in a report on Tuesday, June 4th. They set an outperform rating and a $72.00 price objective on the stock. Jefferies Financial Group started coverage on shares of LYFT in a report on Tuesday, April 23rd. They set a buy rating and a $86.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of LYFT from $82.00 to $86.00 in a report on Wednesday, May 8th. Finally, JMP Securities started coverage on shares of LYFT in a report on Tuesday, April 23rd. They set an outperform rating and a $78.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. LYFT currently has an average rating of Buy and an average target price of $72.96.

LYFT opened at $57.01 on Thursday. The stock has a fifty day moving average price of $63.00. LYFT has a twelve month low of $47.17 and a twelve month high of $88.60.



LYFT (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 7th. The ride-sharing company reported ($0.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.66) by $0.98. The firm had revenue of $867.30 million during the quarter, compared to analyst estimates of $809.64 million. The company’s revenue was up 71.8% compared to the same quarter last year. Sell-side analysts anticipate that LYFT will post -11.87 EPS for the current year.

Institutional investors have recently modified their holdings of the business. Pinnacle Financial Partners Inc. acquired a new stake in LYFT in the 1st quarter worth about $27,000. Hartford Financial Management Inc. acquired a new stake in LYFT in the 1st quarter worth about $39,000. Amundi Pioneer Asset Management Inc. acquired a new stake in LYFT in the 1st quarter worth about $39,000. Catalyst Capital Advisors LLC acquired a new position in shares of LYFT in the 2nd quarter valued at approximately $34,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of LYFT in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 30.70% of the company’s stock.

LYFT Company Profile

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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Analyst Recommendations for LYFT (NASDAQ:LYFT)

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