LYFT Inc (NASDAQ:LYFT) dropped 6.3% on Monday . The stock traded as low as $55.56 and last traded at $56.11. Approximately 14,316,605 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 16,554,809 shares. The stock had previously closed at $59.90.
LYFT has been the subject of several analyst reports. DA Davidson initiated coverage on LYFT in a report on Tuesday, March 19th. They issued a “buy” rating and a $75.00 target price for the company. Northcoast Research started coverage on LYFT in a report on Wednesday, March 27th. They set a “neutral” rating for the company. Wedbush started coverage on LYFT in a report on Wednesday, March 27th. They set a “neutral” rating for the company. Consumer Edge started coverage on LYFT in a report on Monday, April 1st. They set a “neutral” rating and a $73.00 price target for the company. Finally, Guggenheim started coverage on LYFT in a report on Monday, April 1st. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $71.40.
In other LYFT news, Director R. Ann Miura-Ko purchased 1,650 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average cost of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
An institutional investor recently bought a new position in LYFT stock. Virtu Financial LLC bought a new stake in LYFT Inc (NASDAQ:LYFT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,921 shares of the ridesharing company’s stock, valued at approximately $385,000.
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LYFT Company Profile (NASDAQ: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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