LYFT (LYFT) Receives New Coverage from Analysts at JMP Securities

JMP Securities started coverage on shares of LYFT (NASDAQ:LYFT) in a report released on Tuesday, Benzinga reports. The brokerage issued an outperform rating and a $78.00 price objective on the ridesharing company’s stock.

Other analysts have also issued research reports about the stock. Canaccord Genuity initiated coverage on shares of LYFT in a research report on Tuesday. They issued a buy rating and a $75.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of LYFT in a research report on Tuesday. They issued a buy rating and a $68.00 price objective on the stock. UBS Group initiated coverage on shares of LYFT in a research report on Tuesday. They issued a buy rating and a $82.00 price objective on the stock. Cross Research initiated coverage on shares of LYFT in a research report on Tuesday, April 2nd. They issued a buy rating and a $69.01 price objective on the stock. Finally, Daiwa Capital Markets initiated coverage on shares of LYFT in a research report on Friday, April 5th. They issued a buy rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $75.71.

Shares of LYFT stock opened at $57.24 on Tuesday. LYFT has a 12 month low of $54.32 and a 12 month high of $88.60.

In other news, Director R. Ann Miura-Ko bought 1,650 shares of the stock in a transaction that occurred on 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. acquired a new position in LYFT during the first quarter worth $219,000. Virtu Financial LLC acquired a new position in LYFT during the first quarter worth $385,000. Oppenheimer Asset Management Inc. acquired a new position in LYFT during the first quarter worth $414,000. Creative Planning acquired a new position in LYFT during the first quarter worth $490,000. Finally, FNY Investment Advisers LLC acquired a new position in LYFT during the first quarter worth $700,000. Institutional investors and hedge funds own 0.07% of the company’s stock.

About LYFT

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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