Wedbush analyst Daniel Ives maintained a Hold rating on Lyft Inc Class A (LYFT – Research Report) on April 11 and set a price target of $80. The company’s shares closed on Friday at $59.90, close to its 52-week low of $57.66.
According to TipRanks.com, Ives is a 4-star analyst with an average return of 7.4% and a 61.9% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Pivotal Software Inc, and Verint Systems Inc.
Lyft Inc Class A has an analyst consensus of Moderate Buy, with a price target consensus of $69.25, a 15.6% upside from current levels. In a report issued on March 27, Northcoast Research also initiated coverage with a Hold rating on the stock.
Based on Lyft Inc Class A’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $249 million. In comparison, last year the company had a GAAP net loss of $234 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LYFT in relation to earlier this year.
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Lyft, Inc. operates as an online social rideshare community platform. It helps commuters to share rides with friends, classmates, and co-workers going the same way. The company was founded by Marcus Cohn, John Zimmer, Rajat Suri, Matt van Horn, and Logan Green in June 2012 and is headquartered in San Francisco, CA.