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

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LYFT (NASDAQ:LYFT) had its price target trimmed by Seaport Global Securities from $42.00 to $35.00 in a research note published on Tuesday, The Fly reports. The firm currently has a sell rating on the ride-sharing company’s stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. upped their price target on LYFT from $82.00 to $86.00 in a research report on Wednesday, May 8th. Stifel Nicolaus upped their price target on LYFT from $68.00 to $70.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Wedbush restated a hold rating and issued a $67.00 price target on shares of LYFT in a research report on Friday, May 3rd. Atlantic Securities began coverage on LYFT in a research report on Friday, May 3rd. They issued an underweight rating and a $50.00 price target for the company. Finally, Tigress Financial began coverage on LYFT in a research report on Tuesday, April 30th. They issued a buy rating and a $59.80 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. LYFT has a consensus rating of Buy and an average price target of $71.51.

Shares of LYFT opened at $53.79 on Tuesday. LYFT has a 52 week low of $47.17 and a 52 week high of $88.60.

In other LYFT news, Director R. Ann Miura-Ko acquired 1,650 shares of the company’s stock in a transaction dated 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYFT. FMR LLC bought a new position in shares of LYFT in the first quarter worth about $1,451,179,000. AH Equity Partners III Parallel L.L.C. bought a new position in shares of LYFT in the first quarter worth about $704,682,000. Falcon Edge Capital LP bought a new position in shares of LYFT in the first quarter worth about $605,929,000. AH Equity Partners III L.L.C. bought a new position in shares of LYFT in the first quarter worth about $472,872,000. Finally, JPMorgan Chase & Co. bought a new position in shares of LYFT in the first quarter worth about $196,554,000. 1.66% 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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