Stifel Nicolaus Boosts LYFT (NASDAQ:LYFT) Price Target to $76.00

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LYFT (NASDAQ:LYFT) had its price target increased by Stifel Nicolaus from $70.00 to $76.00 in a research report report published on Tuesday, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the ride-sharing company’s stock.

LYFT has been the topic of several other research reports. Citigroup began coverage on shares of LYFT in a research report on Tuesday, June 4th. They set a buy rating and a $70.00 price target on the stock. Northcoast Research began coverage on shares of LYFT in a research report on Wednesday, March 27th. They set a neutral rating on the stock. Macquarie began coverage on shares of LYFT in a research report on Tuesday, June 4th. They set an outperform rating on the stock. Barclays began coverage on shares of LYFT in a research report on Tuesday, June 4th. They set an equal weight rating and a $55.00 price target on the stock. Finally, Wedbush reissued a hold rating and set a $67.00 price target on shares of LYFT in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $71.44.

Shares of LYFT opened at $60.47 on Tuesday. LYFT has a 1 year low of $47.17 and a 1 year high of $88.60. The stock’s 50-day simple moving average is $59.83.

LYFT (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, May 7th. The ride-sharing company reported ($47.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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. Research analysts expect that LYFT will post -11.86 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC acquired a new stake in LYFT in the first quarter valued at approximately $42,175,000. Gables Capital Management Inc. purchased a new position in LYFT in the first quarter valued at approximately $145,000. Laurion Capital Management LP purchased a new position in LYFT in the first quarter valued at approximately $7,829,000. Zevenbergen Capital Investments LLC purchased a new position in LYFT in the first quarter valued at approximately $17,984,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in LYFT in the first quarter valued at approximately $2,346,000. 30.67% of the stock is currently 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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