In a report released today, Brad Erickson from RBC Capital maintained a Hold rating on Lyft (LYFT – Research Report), with a price target of $17.00. The company’s shares closed yesterday at $12.13.
According to TipRanks, Erickson is a 5-star analyst with an average return of 21.0% and a 55.47% success rate. Erickson covers the Consumer Cyclical sector, focusing on stocks such as Amazon, Expedia, and Carvana Co.
In addition to RBC Capital, Lyft also received a Hold from Needham’s Bernie McTernan in a report issued today. However, on the same day, Bank of America Securities reiterated a Sell rating on Lyft (NASDAQ: LYFT).
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LYFT market cap is currently $4.87B and has a P/E ratio of -5.01.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LYFT in relation to earlier this year.
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Lyft (LYFT) Company Description:
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.
Read More on LYFT:
- Lyft Stock: What’s Behind the Volatile Move, Post Q4 Print?
- Lyft Enhances Transparency with Updated Investor Materials
- Options Volatility and Implied Earnings Moves Today, February 13, 2024
- Uber, Lyft to stage nationwide protest on February 14, Business Insider reports
- LYFT Earnings Report this Week: Is It a Buy, Ahead of Earnings?
