Lyft (LYFT) Receives a Hold from Raymond James


Raymond James analyst Aaron Kessler reiterated a Hold rating on Lyft (LYFT) yesterday. The company’s shares closed last Tuesday at $56.19.

According to TipRanks.com, Kessler is a top 100 analyst with an average return of 28.2% and a 73.1% success rate. Kessler covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class C.

Currently, the analyst consensus on Lyft is a Moderate Buy with an average price target of $71.11, representing a 26.6% upside. In a report issued on April 20, Nomura also initiated coverage with a Hold rating on the stock with a $61.00 price target.

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Based on Lyft’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $570 million and GAAP net loss of $458 million. In comparison, last year the company earned revenue of $1.02 billion and had a GAAP net loss of $356 million.

Based on the recent corporate insider activity of 79 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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