Cross Research Initiates Coverage on LYFT (NASDAQ:LYFT)

Cross Research started coverage on shares of LYFT (NASDAQ:LYFT) in a research report report published on Tuesday, April 2nd, Benzinga reports. The firm issued a buy rating and a $69.01 target price on the ridesharing company’s stock.

Other analysts also recently issued reports about the stock. Northcoast Research began coverage on shares of LYFT in a report on Wednesday, March 27th. They issued a neutral rating on the stock. Seaport Global Securities started coverage on shares of LYFT in a report on Tuesday, April 2nd. They set a sell rating on the stock. Guggenheim started coverage on shares of LYFT in a report on Monday, April 1st. They set a neutral rating on the stock. Wedbush started coverage on shares of LYFT in a report on Wednesday, March 27th. They set a neutral rating on the stock. Finally, Consumer Edge started coverage on shares of LYFT in a report on Monday, April 1st. They set a neutral rating and a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $75.71.

Shares of LYFT stock traded up $0.90 during trading hours on Tuesday, reaching $57.24. The company’s stock had a trading volume of 5,845,767 shares, 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 related news, Director R. Ann Miura-Ko acquired 1,650 shares of the stock in a transaction on Tuesday, April 2nd. The stock was bought at an average cost of $72.00 per share, with a total value of $118,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

A number of institutional investors have recently added to or reduced their stakes in LYFT. Virtu Financial LLC purchased a new stake in LYFT in the 1st quarter valued at about $385,000. Oppenheimer Asset Management Inc. purchased a new stake in LYFT in the 1st quarter valued at about $414,000. Creative Planning purchased a new stake in shares of LYFT in the 1st quarter worth approximately $490,000. FNY Investment Advisers LLC purchased a new stake in shares of LYFT in the 1st quarter worth approximately $700,000. Finally, Calamos Advisors LLC purchased a new stake in shares of LYFT in the 1st quarter worth approximately $1,174,000. 0.07% of the stock is owned by institutional investors.

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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