Lyft (LYFT) Receives a Buy from Wedbush


In a report issued on September 3, Daniel Ives from Wedbush maintained a Buy rating on Lyft (LYFT). The company’s shares closed last Tuesday at $26.41.

According to TipRanks.com, Ives is a 5-star analyst with an average return of 18.2% and a 61.0% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.

Lyft has an analyst consensus of Moderate Buy, with a price target consensus of $42.50, a 56.9% upside from current levels. In a report issued on August 26, Citigroup also maintained a Buy rating on the stock with a $49.00 price target.

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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.

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