LYFT (NASDAQ:LYFT) Research Coverage Started at Guggenheim

Investment analysts at Guggenheim initiated coverage on shares of LYFT (NASDAQ:LYFT) in a research report issued on Monday, April 1st, MarketBeat.com reports. The brokerage set a “neutral” rating on the ridesharing company’s stock.

LYFT has been the subject of several other reports. Northcoast Research assumed coverage on LYFT in a report on Wednesday, March 27th. They set a “neutral” rating for the company. DA Davidson assumed coverage on LYFT in a report on Tuesday, March 19th. They set a “buy” rating and a $75.00 price objective for the company. Consumer Edge assumed coverage on LYFT in a report on Monday, April 1st. They set a “neutral” rating and a $73.00 price objective for the company. Finally, Wedbush assumed coverage on LYFT in a report on Wednesday, March 27th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $75.71.

Shares of LYFT traded up $0.90 during trading hours on Monday, hitting $57.24. 5,845,767 shares of the company were exchanged, compared to its average volume of 12,800,350. LYFT has a one year low of $54.32 and a one year high of $88.60.

In other LYFT news, Director R. Ann Miura-Ko acquired 1,650 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average cost of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several institutional investors have recently bought and sold shares of the company. Creative Planning acquired a new stake in LYFT during the first quarter worth about $490,000. Oppenheimer Asset Management Inc. acquired a new stake in LYFT during the first quarter valued at approximately $414,000. Columbus Circle Investors acquired a new stake in LYFT during the first quarter valued at approximately $20,523,000. FNY Investment Advisers LLC acquired a new stake in LYFT during the first quarter valued at approximately $700,000. Finally, Virtu Financial LLC acquired a new stake in LYFT during the first quarter valued at approximately $385,000. Institutional investors and hedge funds own 0.07% 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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