LYFT Inc (NASDAQ:LYFT) Given Average Recommendation of “Hold” by Brokerages

Shares of LYFT Inc (NASDAQ:LYFT) have earned an average recommendation of “Hold” from the thirty-five ratings firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $71.44.

Several equities research analysts have issued reports on LYFT shares. Macquarie started coverage on Corteva in a research note on Tuesday, June 4th. They set an “outperform” rating for the company. Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Jefferies Financial Group set a $250.00 price target on FleetCor Technologies and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. DA Davidson set a $72.00 price target on LYFT and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Northcoast Research started coverage on LYFT in a research note on Wednesday, March 27th. They set a “neutral” rating for the company.

LYFT stock traded up $0.83 during midday trading on Thursday, hitting $66.00. 1,871,087 shares of the company’s stock were exchanged, compared to its average volume of 6,813,672. LYFT has a 52-week low of $47.17 and a 52-week high of $88.60. The stock’s 50-day moving average price is $61.66.

LYFT (NASDAQ:LYFT) last posted its earnings results on Tuesday, May 7th. The ride-sharing company reported ($47.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($4.74) by ($42.39). The company had revenue of $776.03 million during the quarter, compared to analyst estimates of $744.09 million. Equities research analysts predict that LYFT will post -11.87 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. bought a new stake in shares of LYFT in the 1st quarter valued at about $27,000. RPG Investment Advisory LLC lifted its stake in shares of LYFT by 500.0% in the 2nd quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock valued at $38,000 after acquiring an additional 500 shares during the last quarter. Hartford Financial Management Inc. bought a new stake in shares of LYFT in the 1st quarter valued at about $39,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of LYFT in the 1st quarter valued at about $39,000. Finally, Parkside Financial Bank & Trust bought a new position in LYFT during the 1st quarter valued at approximately $48,000. 30.67% 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.

See Also: Why are trading ranges significant?

Analyst Recommendations for LYFT (NASDAQ:LYFT)

Receive News & Ratings for LYFT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LYFT and related companies with MarketBeat.com's FREE daily email newsletter.