Lyft (LYFT) Receives a Hold from Stifel Nicolaus

Stifel Nicolaus analyst Scott Devitt maintained a Hold rating on Lyft (LYFTResearch Report) on April 30 and set a price target of $55.00. The company’s shares closed last Tuesday at $55.02.

According to TipRanks.com, Devitt is a top 25 analyst with an average return of 35.3% and a 71.7% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class A.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lyft with a $70.61 average price target, a 25.2% upside from current levels. In a report issued on April 20, Nomura also initiated coverage with a Hold rating on the stock with a $61.00 price target.

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Based on Lyft’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $570 million and GAAP net loss of $458 million. In comparison, last year the company earned revenue of $1.02 billion and had a GAAP net loss of $356 million.

Based on the recent corporate insider activity of 79 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.