Lyft (LYFT) Gets a Hold Rating from Morgan Stanley
Morgan Stanley analyst Brian Nowak maintained a Hold rating on Lyft (LYFT) today and set a price target of $31.00. The company’s shares closed last Monday at $30.30.
According to TipRanks.com, Nowak is a 5-star analyst with an average return of 7.1% and a 59.4% success rate. Nowak covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Activision Blizzard, and Uber Technologies.
Currently, the analyst consensus on Lyft is a Strong Buy with an average price target of $59.76.
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Based on Lyft’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.02 billion and GAAP net loss of $356 million. In comparison, last year the company earned revenue of $670 million and had a GAAP net loss of $249 million.
Based on the recent corporate insider activity of 102 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LYFT in relation to earlier this year.
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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.