Seaport Global Securities Lowers LYFT (LYFT) Price Target to $35.00

LYFT (NASDAQ:LYFT) had its price objective decreased by Seaport Global Securities from $42.00 to $35.00 in a research report released on Tuesday morning, The Fly reports. Seaport Global Securities currently has a sell rating on the ride-sharing company’s stock.

Several other equities research analysts also recently weighed in on LYFT. DA Davidson initiated coverage on LYFT in a report on Tuesday, March 19th. They issued a buy rating and a $75.00 price target on the stock. Northcoast Research initiated coverage on LYFT in a report on Wednesday, March 27th. They issued a neutral rating on the stock. Wedbush initiated coverage on LYFT in a report on Wednesday, March 27th. They issued a neutral rating on the stock. Consumer Edge initiated coverage on LYFT in a report on Monday, April 1st. They issued a neutral rating and a $73.00 price target on the stock. Finally, Guggenheim initiated coverage on LYFT in a report on Monday, April 1st. They issued a neutral rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. LYFT presently has an average rating of Buy and an average target price of $71.51.

Shares of NASDAQ LYFT opened at $53.79 on Tuesday. LYFT has a fifty-two week low of $47.17 and a fifty-two week high of $88.60.

In other news, Director R. Ann Miura-Ko acquired 1,650 shares of LYFT stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Financial Partners Inc. purchased a new position in LYFT during the 1st quarter worth $27,000. US Bancorp DE purchased a new position in LYFT during the 1st quarter worth $37,000. Hartford Financial Management Inc. purchased a new position in LYFT during the 1st quarter worth $39,000. Parkside Financial Bank & Trust purchased a new position in LYFT during the 1st quarter worth $48,000. Finally, SEI Investments Co purchased a new position in LYFT during the 1st quarter worth $75,000. Institutional investors own 1.66% of the company’s stock.

LYFT Company Profile

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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