Susquehanna Bancshares Upgrades LYFT (NASDAQ:LYFT) to Positive

Susquehanna Bancshares upgraded shares of LYFT (NASDAQ:LYFT) from a neutral rating to a positive rating in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. They currently have $80.00 price target on the ride-sharing company’s stock, up from their previous price target of $57.00.

LYFT has been the subject of a number of other research reports. DA Davidson initiated coverage on shares of LYFT in a research report on Tuesday, March 19th. They issued a buy rating and a $75.00 price objective for the company. Piper Jaffray Companies initiated coverage on shares of LYFT in a research report on Tuesday, April 23rd. They issued an overweight rating and a $78.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of LYFT in a research report on Tuesday, April 23rd. They issued an overweight rating and a $82.00 price objective for the company. Raymond James initiated coverage on shares of LYFT in a research report on Tuesday, April 23rd. They issued an outperform rating and a $85.00 price objective for the company. Finally, 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 for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have issued a buy rating to the stock. LYFT has an average rating of Buy and an average price target of $71.23.

Shares of LYFT opened at $61.21 on Tuesday. LYFT has a 12-month low of $47.17 and a 12-month high of $88.60.

LYFT (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, May 7th. The ride-sharing company reported ($47.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.74) by ($42.39). The firm had revenue of $776.03 million for the quarter, compared to analyst estimates of $744.09 million. As a group, analysts expect that LYFT will post -11.85 earnings per share for the current fiscal year.

In related news, Director R. Ann Miura-Ko purchased 1,650 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was purchased at an average price of $72.00 per share, with a total value of $118,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of hedge funds have recently modified their holdings of the stock. Pinnacle Financial Partners Inc. acquired a new position in LYFT during the first quarter worth approximately $27,000. US Bancorp DE acquired a new position in LYFT during the first quarter worth approximately $37,000. Hartford Financial Management Inc. acquired a new position in LYFT during the first quarter worth approximately $39,000. Parkside Financial Bank & Trust acquired a new position in LYFT during the first quarter worth approximately $48,000. Finally, SEI Investments Co acquired a new position in LYFT during the first quarter worth approximately $75,000. 30.67% of the stock is owned by hedge funds and other institutional investors.

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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